Economic Data Guide
Understanding the methodology, reporting schedules, and nuances of the Federal Reserve data displayed on our dashboard.
Understanding GDP Reporting
Quarterly vs. Monthly
Unlike the Unemployment Rate or Inflation data, which are reported monthly, Gross Domestic Product (GDP) is a quarterly metric. This means new data points only appear four times a year.
The Reporting Lag
Economic data is not instantaneous. There is a significant "reporting lag" as the Bureau of Economic Analysis (BEA) collects and verifies data from across the nation.
Why is there a delay in GDP data reporting?
In economic databases like FRED, quarterly data is always dated as the first day of that quarter.
- • January 1st represents the 1st Quarter (Jan, Feb, Mar).
- • April 1st represents the 2nd Quarter (Apr, May, Jun).
- • July 1st represents the 3rd Quarter (Jul, Aug, Sep).
- • October 1st represents the 4th Quarter (Oct, Nov, Dec).
Because GDP is a complex calculation involving data from across the entire economy, the "Advance Estimate" for a quarter is typically not released until late in the first month of the following quarter. Finalized data can take even longer to verify and publish, which is why the most recent data point on the chart may seem several months behind the current date.
Unemployment Rate
Reported monthly by the Bureau of Labor Statistics (BLS). This data is typically released on the first Friday of every month, reflecting the previous month's labor market conditions.
Beige Book Sentiment
Published eight times a year. Our dashboard quantifies the qualitative "tone" of these reports into a standardized sentiment score for comparative analysis and trend identification.
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