The one-month, three-month, six-month, and one-year rates remained the same, while all other rates fell in May.  The yield curve narrowed from the previous month thus extending its narrowing streak to two months.  The one-month bill maintained the lowest rate throughout the month but it shared the lowest rate on multiple occasions.  There were no moves upwards on short-term rates thus decreasing the risk of an inversion brought upon by rising short-term rates.  Such an inversion, if it were to happen would be a strong indicator for an upcoming recession.

The chart above shows the annualized nominal gross domestic product (GDP) growth rate when the GDP is priced in US dollars in each EU and US state over the past five years as of the fourth quarter of 2020 and the growth rate over the past ten years.  Eleven states had negative growth over the past ten years while one had negative growth over the past five.

The chart above shows the annualized nominal gross domestic product (GDP) growth rate in each EU state over the past five years as of the fourth quarter of 2020 and the growth rate over the past ten years.  Two states experienced negative growth either in the past five years or in the past ten years.

The chart above shows the annualized nominal gross domestic product (GDP) growth rate in each US state over the past five years as of the fourth quarter of 2020 and the growth rate over the past ten years.  Two states experienced negative growth either in the past ten years.

The chart above shows the per capita annualized nominal gross domestic product (GDP) in each EU and US region as of the fourth quarter of 2020 in US dollars, the change from five years ago, and the per capita GDP ten years prior.  Only one EU region has seen a drop in per capita GDP over the past five or ten years.

The chart above shows the per capita annualized nominal gross domestic product (GDP) in each EU region as of the fourth quarter of 2020 in euros, the change from five years ago, and the per capita GDP ten years prior.  Every single region's economy grew both over the past five and past ten years.

The chart above shows the per capita annualized nominal gross domestic product (GDP) in each US region as of the fourth quarter of 2020 in dollars, the change from five years ago, and the per capita GDP ten years prior.  Every single region's economy grew both over the past five and past ten years.

The chart above shows the per capita annualized nominal gross domestic product (GDP) in each EU and US state as of the fourth quarter of 2020 in dollars, the change from five years ago, and the GDP ten years prior.  There is one state that has a lower per capita GDP now than five years ago and 11 that have a lower per capita GDP now than ten years ago.

The chart above shows the per capita annualized nominal gross domestic product (GDP) in each EU state as of the fourth quarter of 2020 in euros, the change from five years ago, and the per capita GDP ten years prior.  Luxembourg and Ireland had exceptional growth over the past five years.

The chart above shows the per capita annualized nominal gross domestic product (GDP) in each US state as of the fourth quarter of 2020 in millions of dollars, the change from five years ago, and the per capita GDP ten years prior.  Only Alaska and Wyoming have seen a drop in their per capita GDP over the past ten years.