There are two commonly reported ways of computing the annual growth in real GDP. First is the fourth quarter-over-fourth quarter (Q4/Q4) measure, which compares the amount of production of final goods and services in the December quarter with the amount produced in the December quarter of the previous year. Second is the year-over-year (YoY) measure, which compares total production for the year with total production for the previous year. Both growth rates are plotted in the FRED graph above. The blue line is the Q4/Q4 growth rate, and the red line is the YoY growth rate. While the two growth rates look similar over ... (full story)