<ol>
<li><p>As Fred dataset clearly states the second series in quarterly series at an annual rate where the <span class="math-container">$32.9\%$</span> change is calculated just as the difference from preceding quarter. The annual rate change from preceding quarter is calculated differently than quarter-on-quarter rate. You can review the formulas fred uses <a href="https://fredhelp.stlouisfed.org/fred/data/understanding-the-data/formulas-calculate-growth-rates/" rel="nofollow noreferrer">here</a>. Most of the discrepancy between the numbers can be attributed to that.</p>
</li>
<li><p>the seasonal adjustment is done by Fed using <a href="https://fredblog.stlouisfed.org/2017/07/tis-the-season-for-adjustment/" rel="nofollow noreferrer">algorithms</a> not by calculating quarter-on-quarter value so a discrepancy might creep already just from different method of seasonally adjusting the data although that should not be excessive.</p>
</li>
</ol>

CC BY-SA 4.0
2020-07-30T20:05:58.613Z
2020-07-30T20:11:14.133Z
2020-07-30T20:11:14.133Z
1muflon1
<p><a href="https://fred.stlouisfed.org/series/ND000334Q" rel="nofollow noreferrer">https://fred.stlouisfed.org/series/ND000334Q</a></p>
<p>From this not seasonally adjusted data, Q2 GDP merely dropped 1-4305/4674=8% QoQ? What makes this number to be so different from the 32.9% decline they published today supposedly calculated form the seasonally adjusted GDP data?</p>
<p><a href="https://fred.stlouisfed.org/series/GDPC1" rel="nofollow noreferrer">https://fred.stlouisfed.org/series/GDPC1</a></p>

<gdp>
How does FRED Quarterly Real Gross Domestic Product and USA GDP growth rate match?
frt132
# How does FRED Quarterly Real Gross Domestic Product and USA GDP growth rate match?

(Asked by: username_0 on 2020-07-30)

<https://fred.stlouisfed.org/series/ND000334Q>

From this not seasonally adjusted data, Q2 GDP merely dropped 1-4305/4674=8% QoQ? What makes this number to be so different from the 32.9% decline they published today supposedly calculated form the seasonally adjusted GDP data?

<https://fred.stlouisfed.org/series/GDPC1>

**Tags:** gdp

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## 1 answers

### Answer by username_1 on 2020-07-30. Score: 1

1. As Fred dataset clearly states the second series in quarterly series at an annual rate where the $32.9\%$ change is calculated just as the difference from preceding quarter. The annual rate change from preceding quarter is calculated differently than quarter-on-quarter rate. You can review the formulas fred uses [here](https://fredhelp.stlouisfed.org/fred/data/understanding-the-data/formulas-calculate-growth-rates/). Most of the discrepancy between the numbers can be attributed to that.
2. the seasonal adjustment is done by Fed using [algorithms](https://fredblog.stlouisfed.org/2017/07/tis-the-season-for-adjustment/) not by calculating quarter-on-quarter value so a discrepancy might creep already just from different method of seasonally adjusting the data although that should not be excessive.


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