Skip to main content

Yield Curve and Predicted GDP Growth

  • Background: The yield curve—which measures the spread between the yields on short- and long-term maturity bonds—is often used to predict recessions.
  • Description: We use past values of the slope of the yield curve and GDP growth to provide predictions of future GDP growth and the probability that the economy will fall into a recession over the next year.

Percent change from previous month

November October September
3-month Treasury bill rate (percent) 0.08 0.10 0.10
10-year Treasury bond rate (percent) 0.87 0.83 0.67
Yield curve slope (basis points) 79 73 57
Prediction for GDP growth (percent) 0.0 -0.1 -0.2
Probability of recession in 1 year (percent) 15.9 18.3 20.0


  • Yield-Curve-Predicted GDP Growth
  • Probability of Recession Calculated from the Yield Curve
  • Chart will load here
  • Chart will load here