But it would make gross output go up because there’s a new B2B purchase involved. It’s at least conceivable that gross output is a leading indicator of the economy. Gross output adjusted for inflation peaked in the same quarter as gross domestic product in 2007, when the deep recession of 2007-9 began. Skousen has created his own version of gross output that’s even bigger than the government’s because it has even more deliberate double counting. His gross output number for this year’s first quarter was more than $58 trillion at an annual rate.

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Persons: Gross, Mark Skousen, Finn Kydland, Skousen, David Ranson Organizations: Chapman University in, HCWE Locations: Chapman University in Orange, Calif, G.D.P