[BostonCard]

I think the growth rates are relative to the same quarter in the previous year.

Quarterly GDP growth rate is compared to the previous quarter, but the number is reported on annualized basis.  So, four consecutive quarters of 2% GDP growth does not mean that GDP is 8% higher after the end of the year; it is 2% higher.

https://www.thebalance.com/what-is-the-g...te-3306016

I would have to double check, but to look at the final GDP, you have to take the fourth root of each figure:

So, Q4/2019 GDP was $21.73 trillion (on an annualized basis), so:
$21.73*[(0.94)^1/4]*[(0.76)^1/4]*[(1.12)^1/4]*[(1.1)^1/4] = $21.05 trillion, which is a 3.2% drop in GDP from Q4/2019

BC

[BostonCard]

I think the growth rates are relative to the same quarter in the previous year.

Quarterly GDP growth rate is compared to the previous quarter, but the number is reported on annualized basis.  So, four consecutive quarters of 2% GDP growth does not mean that GDP is 8% higher after the end of the year; it is 2% higher.

https://www.thebalance.com/what-is-the-g...te-3306016

I would have to double check, but to look at the final GDP, you have to take the fourth root of each figure:

So, Q4/2019 GDP was $21.73 trillion (on an annualized basis), so:
$21.73*[(0.94)^1/4]*[(0.76)^1/4]*[(1.12)^1/4]*[(1.1)^1/4] = $21.05 trillion, which is a 3.2% drop in GDP from Q4/2019

BC