The nominal GDP (NGDP) gap is a measure of unexpected changes in the dollar size of the US economy. In the third quarter of 2022, the median NGDP gap rose to 5.45 percent, up marginally from the previous quarter’s value of 5.21 percent. The 5.45 percent NGDP gap means that the dollar size of the economy, $25.66 trillion, was about $1.33 trillion greater than its expected size of $24.34 trillion.