Comparing US, EU and China GDP

With the sharp GDP decline in Q2, there have been several comparisons of US numbers to other regions of the world. First, it is important to understand: The US reports GDP on a quarter-over-quarter (QoQ) annualized basis. The EU reports GDP on a QoQ basis (not annualized). China reports GDP on a year-over-year (YoY) basis. So the US reported that GDP declined 32.9% in Q2 annualized, the EU reported GDP declined 11.9% in Q2, and China reported GDP increased 3.2% YoY in Q2 (China's big hit was in Q1). This is just how the data is reported.   There is no conspiracy to make the......(read more)

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