U. S. ECONOMIC ACTIVITY HOLDS STEADY IN 1ST QUARTER 2014
Washington, DC — Gross Output, a broader measure of U. S. economic activity published by the Bureau of Economic Analysis, held steady at $30,210.6 billion in the first quarter of 2014.
“The GO data demonstrates that the economy is not as bad off as GDP figures initially suggested,” stated Mark Skousen, editor of Forecasts & Strategies and a Presidential Fellow at Chapman University, who champions Gross Output as a more comprehensive measure of economic activity. He introduced Gross Output as a macroeconomic tool in his work The Structure of Production (New York University Press, 1990). Now the BEA publishes GO on a quarterly basis in its “GDP by Industry” data.
The GO data was released by the BEA on Friday, July 25, 2014: http://www.bea.gov/iTable/iTable.cfm?ReqID=51&step=1#reqid=51&step=51&isuri=1&5114=q&5102=15 [Read more…]