That echoes a recent message from Elon Musk on, X, the social-media service he owns, in which the unofficial head of the group known as the Department of Government Efficiency said a more accurate measure of GDP would exclude government spending.

U.S. Commerce Secretary Howard Lutnick said on Sunday he would strip out government spending from the gross domestic product (GDP) report, but gave no indication how soon this change might happen, while dismissing fears of a possible recession.

Howard Lutnick's remarks came in response to concerns over whether the spending cuts advocated by Elon Musk's Department of Government Efficiency (DOGE) might lead to a recession.

The Commerce Department in its most recent GDP report, showed that the economy grew at an annual rate of 2.3% in the final three months of 2024