United States Real GDP YoY
United States · Quarterly series · EC-US-GDPYY
Latest, Q3 2026
2.1%
-0.12pp from Q2 2026
Forecast
Forecast for Q3 2027: 1.7%, with an 80% interval of 0.5% to 2.9%.
| Period | Forecast | 80% low | 80% high |
|---|---|---|---|
| Q4 2026 | 1.8% | 0.8% | 2.7% |
| Q1 2027 | 1.5% | -0.8% | 3.9% |
| Q2 2027 | 1.7% | 1.3% | 2.1% |
| Q3 2027 | 1.7% | 0.5% | 2.9% |
AI confidence
Mixed evidenceThe tests show no consistent, material advantage over the no-change baseline.
Model: Gradient-boosted trees (machine learning)
- Accuracy vs naive
- +41%Beats the no-change baseline over 6 tests (6 tests, 3 won)
- Direction
- 67%No clear edge over a coin flip (16 of 24 calls right in 6 tests)
- Turning points
- 6 of 9Anticipated most turns (9 turns in 6 tests, 0 without a turn)
- Error vs baseline
- 41% lowerError ratio 0.59; 1.00 is a tie.
- Tests won
- 3 / 6Complete recent tests excluded from model selection; ties count as no win.
- Test period
- 2020-12-01 to 2026-09-014 observations ahead per test.
- 80% band coverage
- 81%Observed outcomes inside the band across all stored test windows.
- Band coverage uses all stored test windows, including model-selection windows when present; it does not determine the confidence label.
- Evaluated 2026-11-14 against the cached history through 2026-09-01.
How this assessment is made
AI confidence describes historical evidence for this forecast, not a probability of being correct. Each backtest fits on data available before its test window. The baseline carries the last value forward. Supported evidence requires at least six complete, non-overlapping tests, an error ratio below 0.90 (rounded to two decimals), and wins in a majority of tests. Ratios from 0.90 to below 1.10 are on par; 1.10 or above is weak evidence. Inconsistent wins produce mixed evidence. For a selected model, only the recent tests excluded from model selection determine this label. These are historical simulations using the available data, not a live trading track record; revisions and foundation-model pretraining can limit how closely they reproduce a past decision. Past performance can change.
Model comparison
5 of 5 models evaluatedModels are selected on older tests and evaluated on separate recent tests. All four classes completed their backtests.
Models tested
Gradient-boosted trees scored lowest on the 2 older tests (0.93) and was chosen. The 6 recent tests played no part in the choice and give its grade (0.59). That grade beats the naive forecast. Scores are MASE: a model's errors divided by the naive forecast's, so 1 is a tie.
4 model classes completed the tests: Machine learning, Foundation model, Statistical, Neural network.
| Model | Class and compute | Older tests | Recent tests | Role |
|---|---|---|---|---|
| Gradient-boosted trees (machine learning) | Machine learning · CPU | 0.93 | 0.59 | Serving |
| Agentic Investor TSFM (foundation model) | Foundation model · CPU | 0.94 | 0.61 | Tested |
| State-space model, 167M (foundation model) | Foundation model · CPU | 0.98 | 0.66 | Tested |
| Exponential smoothing (statistical) | Statistical · CPU | 1.00 | 1.00 | Tested |
| Naive forecast (last value held) | Benchmark · CPU | 1.00 | 1.00 | Benchmark |
| Hierarchical neural network (neural network) | Neural network · CPU | 1.05 | 4.15 | Tested |
Reading
It is above 21% of the 39 earlier readings since Q4 2016.
Recent history (24 observations)
| Period | Value |
|---|---|
| Q3 2026 | 2.1% |
| Q2 2026 | 2.2% |
| Q1 2026 | 2.6% |
| Q4 2025 | 2.0% |
| Q3 2025 | 2.6% |
| Q2 2025 | 2.4% |
| Q1 2025 | 2.3% |
| Q4 2024 | 2.6% |
| Q3 2024 | 3.0% |
| Q2 2024 | 3.3% |
| Q1 2024 | 2.9% |
| Q4 2023 | 3.4% |
| Q3 2023 | 3.2% |
| Q2 2023 | 2.7% |
| Q1 2023 | 2.3% |
| Q4 2022 | 1.2% |
| Q3 2022 | 2.2% |
| Q2 2022 | 2.3% |
| Q1 2022 | 4.0% |
| Q4 2021 | 5.8% |
| Q3 2021 | 5.3% |
| Q2 2021 | 12.6% |
| Q1 2021 | 1.9% |
| Q4 2020 | -0.9% |
Source
Data: public market data feeds.
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