Michigan Real GDP — Inflation-Adjusted

Real GDP strips out the effect of inflation by valuing all output in 2017 dollars, so growth here means actual production gains — not just rising prices. Two consecutive quarters of decline is the classic recession marker.

• Compare quarter-over-quarter change to the U.S. real GDP growth rate (typically 2–3% annualized).
• Watch for divergence from nominal GDP — when nominal rises but real is flat, inflation is doing all the work.
• Sector contribution data shows whether growth is broad-based or concentrated in one industry (usually motor-vehicle assembly cycles drive Michigan swings).