Source: Federal Reserve Bank of Chicago
Release: Brave-Butters-Kelley Indexes
The Brave-Butters-Kelley Indexes (BBKI) are a research project of the Federal Reserve Bank of Chicago. The BBK Coincident and Leading Indexes and Monthly GDP Growth for the U.S. are constructed from a collapsed dynamic factor analysis of a panel of 500 monthly measures of real economic activity and quarterly real GDP growth.
The trend component of GDP is expressed in annualized real GDP growth equivalent units.
This quarterly series is aggregated from the monthly version of the series (BBKMTRD), using the triangle average described in Brave, Butters, and Kelley (2019) to approximate quarterly annualized (log) percent changes from the monthly series.
For more details, see also:
Brave, Scott A., Ross Cole, and David Kelley, 2019, A 'big data' view of the U.S. economy: Introducing the Brave-Butters-Kelley Indexes, Chicago Fed Letter, Federal Reserve Bank of Chicago, No. 422. Crossref, https://doi.org/10.21033/cfl-2019-422
Brave, Scott A., R. Andrew Butters, and David Kelley, 2019, A new 'big data' index of U.S. economic activity, Economic Perspectives, Federal Reserve Bank of Chicago, Vol. 43, No. 1. Crossref, https://doi.org/10.21033/ep-2019-1
Federal Reserve Bank of Chicago, Brave-Butters-Kelley Trend Component of GDP [BBKQTRD], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/BBKQTRD, October 17, 2021.