Hi, we realized a problem with the nominal GDP data for the US.
We download the data in R via the following code:
data_gdp_us <- rdb('BEA', 'NIPA-T10105', mask = 'A191RC-Q')
Then we ask the value for 2018-Q4:
data_gdp_us$value[which(data_gdp_us$period == "2018-10-01")]
The answer is 20897804 which is roughly 21 x 10^6.
The column “dataset_name” tells us that the data are in billions USD (=10^9 in short scale which is the one used in the US):
data_gdp_us$dataset_name[which(data_gdp_us$period == "2018-10-01")]
Thus, we have 21 x 10^15 USD.
According to the BEA press release the 2018-Q4 nominal GDP in the US was 20.87 trillion, thus roughly 21 x 10^12 USD.
When consulting the NIPA table Table 1.1.5 directly at the BEA (it is in billions USD), the number 20 897.8 is shown for 2018-Q4, thus once again 21 x 10^12 USD.
Please let me know when this issue is solved so that we can change or codes accordingly.
Thanks a lot,