US Monthly GDP (MGDP) Index

Our Monthly GDP (MGDP) Index is an indicator of real aggregate output that is conceptually consistent with real Gross Domestic Product (GDP) in the National Income and Product Accounts (NIPA). Our approach uses calculation and aggregation methods comparable to the official GDP from the U.S. Bureau of Economic Analysis. As a result, you receive a monthly index whose variation at the quarterly frequency mimics that of official GDP, and whose intra-quarter variation is a meaningful and comprehensive measure of monthly changes in output.

Timely and current
Comprehensive
More frequent
Meaningful
Granular

US Forecast Flash

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Resources

Monthly GDP Index: Historical Data

Monthly GDP Index: Data Commentary

Methodology

We calculate the MGDP in two steps. First, we derive a raw index from various monthly data, most of which is source data that BEA uses to calculate official quarterly GDP. Second, we calculate a monthly residual that reconciles the raw index with official GDP at the quarterly frequency. We provide MGDP data and historical files to the public at no charge. Please contact us if you need to access our archives of the MGDP.

Additional Coverage

In addition to MGDP, we calculate monthly measures of several NIPA aggregates:

Final sales of domestic product
Final sales to domestic purchasers
Final sales to private domestic purchasers
Gross private domestic investment
Fixed investment
Nonresidential fixed investment
Residential investment

Experts

Chris Varvares

Chris has nearly 40 years of experience in macroeconomic modeling, forecasting and policy analysis, as co-head of US Economics at S&P Global (Now a part of S&P Global), in his previous role as a principal of Macroeconomic Advisers and as a member of the staff of the President's Council of Economic Advisers (1981-1982); he served as a member of the US delegation to the OECD in April 1982. Macroeconomic Advisers was acquired by S&P Global in 2017.He and the S&P Global (Now a part of S&P Global) US economic principals serve as consultants to key agencies of the US and foreign governments, major trade associations, and private corporations, and are widely quoted in the business and financial media. S&P Global (Now a part of S&P Global) is widely recognized as among the most accurate forecasters of the US economy. Chris is a recent past president and a former director of the National Association for Business Economics (NABE). He served as president of the NABE Gateway chapter in St.Louis and is a member of the American Economic Association.He serves as a member of the New York State Economic and Revenue Advisory Board and has participated in the meetings of the Outside Consultants to the CBO, has been a panelist for the World Economic Forum, and he sits on advisory boards for the Olin Business School at Washington University and the Walker School of Business and Technology at Webster University. Chris holds a Bachelor of Arts in Economics from The George Washington University and received his graduate training (ABD) in Economics from Washington University in St. Louis, where he was also a member of the adjunct faculty in both the economics department and the Olin School of Business. He serves as a member of the New York State Economic and Revenue Advisory Board and has participated in the meetings of the Outside Consultants to the CBO, has been a panelist for the World Economic Forum, and he sits on advisory boards for the Olin Business School at Washington University and the Walker School of Business and Technology at Webster University.Chris holds a Bachelor of Arts in Economics from The George Washington University and received his graduate training (ABD) in Economics from Washington University in St. Louis, where he was also a member of the adjunct faculty in both the economics department and the Olin School of Business.

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Joel Prakken

A thought-leader on US economic outlook, monetary policy forecasts and fixed income markets with over 30 years of experience and expertise as a macroeconomic modeler, Dr. Joel has developed an unmatched structural-econometric model of the US economy. He co-founded Macroeconomic Advisers which was acquired in 2017. Prior to founding Macroeconomic Advisers, Dr. Joel held the position of senior economist at the World Headquarters of the IBM Corporation and before that he served with the Federal Reserve Bank of New York, US. He also has held positions on the faculties of New York University's Graduate School of Business, the Economics Department of Washington University, and the Olin School of Business at Washington University. He is the past president and a fellow of the National Association for Business Economics (NABE). He is also past president of the Gateway Association of Business Economists in Saint Louis. Dr. Joel has many publications to his credit, including papers written for the Council of Economic Advisers, the American Council for Capital Formation, and the Center for the American Study of Business on topics ranging from tax reform to budget policy to monetary policy to the impact of technology on productivity. He has testified on these topics before committees in both the US House of Representatives and the Senate. Dr. Joel has participated in meetings of the Outside Consultants to Board of Governors of the Federal Reserve System, is a past member of the Panel of Economic Consultants to the Congressional Budget Office and is a current member of the advisory committee of the Bureau of Economic Analysis.Dr. Joel completed his undergraduate degree in economics at Princeton University, and holds an MA and Ph.D. in economics from Washington University in Saint Louis, United States.

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Ken Matheny

Ken has more than two decades of experience as a professional economist and macroeconomic forecaster, including economic analysis, econometrics, and financial modeling. He is an expert on Federal Reserve policies, macroeconomic impacts, and interactions with the banking and financial sectors.He writes frequently on macroeconomics, financial markets, and the Federal Reserve. He maintains regular contact with clients and is available for media engagements. He has appeared in The Wall Street Journal, New York Times, Bloomberg, Yahoo Finance, Marketplace, and other US and foreign media outlets. Prior to joining S&P Global, he was a Senior Economist at Macroeconomic Advisers. He was an assistant professor at Purdue University and worked in the banking industry.He holds a Ph.D. from UCLA and a Bachelor of Arts degree from Washington University in St. Louis (Economics and German), magna cum laude.

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Ben Herzon

Dr. Herzon focuses on translating recent trends in high-frequency data into a near-term forecast of GDP growth with high statistical precision. That includes directing the analysis of the data, authoring data commentaries, running the current-quarter tracking system, designing and maintaining a population-weighted snowfall database and conducting other research that requires a heavy dose of statistical horsepower. In addition, he writes portions of the forecast reports and conducts and reports research on a variety of macro topics. He joined Macroeconomic Advisers - later acquired by S&P Global (Now a part of S&P Global) - a year prior to receiving his Ph.D. in economics from Washington University in April 1998.His research there focused tracing the effects of monetary policy shocks through various industrial sectors, employing BEA's input-output accounts and time-series econometric techniques. He is a member and previously served as president of the St. Louis Gateway Chapter of NABE.

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Patrick Newport

Dr. Patrick tracks the investment and construction sectors for the Global Insights Macroeconomic Service and serves on client consulting projects. He manages long-term forecasts for Global Insights and co-manages the macroeconomic model. He joined the company in 1998. Previously, he worked as a research economist for the Washington State Department of Revenue, where he later served as a senior economist for the Office of the Forecast Council of Washington State.He holds a Bachelor of Arts in Business Administration and a Master of Arts in Economics from Louisiana State University, US. Dr. Patrick attained his doctorate in Philosophy from Harvard University, US. He speaks English and Spanish.

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Sara Johnson

In this role, Sara helps clients assess worldwide business and financial opportunities and risks. Sara co-authors the Global Executive Summary manages the Executive Strategy Council, and presents the economic outlook to international conferences. She previously served as North American research director and chief regional economist with Standard & Poor's DRI, and managing director of global macroeconomics with Global Insight, predecessors of S&P Global Economics & Country Risk that is now part of S&P Global Market Intelligence. Sara is a former director of the National Association for Business Economics and the NABE Foundation and was named an NABE Fellow in 2014. She is past president of The Boston Economic Club and a member of the American Economic Association.Sara holds a Bachelor of Arts in Economics and Mathematics from Wellesley College, US, and earned her Master of Arts in Economics from Harvard University, US, with concentrations in Finance and Macroeconomic Theory.

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Michael Konidaris

Michael leads the product development for the CECL implementation by financial institutions. His responsibilities include the construction of cross-asset class econometric models, the development of forecasts for Libor, Swap and Corporate Bond rates, and the construction of simulations of global economic scenarios to evaluate the P&L of clients' portfolios.Michael joined S&P Global through the 2017 acquisition of Macroeconomic Advisers. He has worked as an economic consultant on the forecasting team at Roubini Global Economics and as a research intern at The Midway Group, a hedge fund specializing in the US residential mortgage market. He completed his military service as a sailor at the Hellenic Navy and co-founded and served at the board of directors of AUEB's Investment and Finance Club, the first ever finance club in a Greek University. Michael holds a Bachelor of Science degree in accounting and finance from Athens University of Economics and Business (AUEB), Greece, and a Master of Arts degree in economics from New York University (NYU), US.

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US Monthly GDP (MGDP) Index

Resources

Experts

Chris Varvares

Joel Prakken

Ken Matheny

Ben Herzon

Patrick Newport

Sara Johnson

Michael Konidaris

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