What distinguishes an annual GDP total from quarterly GDP reported at an annual rate?
Note
A calendar-year GDP estimate should be distinguished from a single quarter's annualized GDP figure.
A calendar-year total covers production across all four quarters. A quarterly annualized rate expresses one quarter's flow at a hypothetical yearly pace, not the amount actually produced during that single quarter. Annual rates are useful for pace comparisons but must not be added as quarter totals.