Re:U.S. GDP grew at a 4.9% annual pace in the third quarter,...
by cadlin on Thursday October 26, 2023 @12:18PM
(#38027761)
If you project the first three quarters of GDP growth, the US should end the year with $27.6 Trillion of GDP. The annualized rate is 8.5% without adjusting for inflation. Inflation adjusted, the annual rate of growth is 3.75% in the first three quarters.
In that case, the $1.7 Trillion deficit is 6.1% of GDP, so actually a half-percent lower than your calculations.
In that case, the $1.7 Trillion deficit is 6.1% of GDP, so actually a half-percent lower than your calculations.