GO Beyond GDP: A Breakthrough in Macroeconomics
A Paper Presented to the Mont Pelerin Society Meetings on May 8, 2017, Seoul, Korea (anniversary of Friedrich Hayek’s birthday) by Mark Skousen Presidential Professor, Chapman University “Gross output [GO] is the natural measure of the production sector, while net … Continued
Gross Output (GO) Anticipated Slowdown in 2020 – Before the Deluge
Washington, DC (Monday, April 6, 2020): On April 6, 2020, the federal Bureau of Economic Analysis (BEA) announced that gross output (GO) – the most comprehensive measure of total spending in the economy, including the supply chain – slowed dramatically … Continued
New Academic Article Supports GO and Austrian Theory of the Business Cycle
Mark Gertsen (University of Groningen) has just published an academic study in favor of gross output (GO) as a powerful new macroeconomic tool and statistic. His article, “Interest Rates, Roundaboutness, and Business Cycles: An Empirical Study,” is published in the fall … Continued
U.S. Economy on the GO: Total Spending Accelerates
Washington, DC (Thursday, January 9, 2020): On January 9, 2020, the Bureau of Economic Analysis (BEA) released the “top line” measure of total spending at all stages of the economy, known as gross output (GO), for the 3rd quarter 2019. … Continued
Don’t Worry about the U.S. Consumer
Take a look at today’s article about the U.S. consumer by Brian Wesbury, chief economist at First Trust Chicago: https://www.ftportfolios.com/Commentary/EconomicResearch/2019/12/2/dont-worry-about-the-us-consumer He uses my gross output (GO) statistic to refute the myth that consumer spending drives the economy. It’s a beautifully written … Continued
U.S. Enjoys a Modest Recovery – No Recession in Sight!
Washington, DC (Tuesday, October 29, 2019): On October 29, 2019, the Bureau of Economic Analysis released gross output (GO) data for the 2nd quarter 2019. The 2.0% real-term growth in the second-quarter 2019 was 25% higher than the 1.6% … Continued
Trade War Threatens Recession
Washington, DC (Monday, July 29, 2019): On July 19, 2019, the federal government released gross output (GO) for the 1st quarter 2019, and the 1.6% real-term growth — which was 30% lower than the 2.3% advancement from the previous period … Continued
Gross Output Confirms a Slow-Growth Economy as We Enter 2019
Washington, DC (Friday, April 19, 2019): Today the federal government released gross output (GO) for the 4th quarter 2018, and the increase (2.3% in real terms) confirmed a slow-growth economy as we enter a new year. For the entire year … Continued
Recent Growth of GDP and Gross Output
Using Gross Output (GO) that the Bureau of Economic Analysis (BEA) has been releasing every quarter since April 2014, David Ranson, chief economist for the private forecasting firm HCWE & Co., has been tracking and analyzing the relationship between GDP … Continued
The US Economy is NOT Slowing Down. Business Spending Soars!
By Mark Skousen Editor, Forecasts & Strategies Washington, DC (Thursday, February 21, 2018) “Gross Output provides an important new perspective on the economy and a powerful new set of tools of analysis, one that is closer to the way … Continued
Gross Output Indicates Continued Boom in the U.S. Economy as Business Spending Expands Rapidly in Q2
Washington, DC (Thursday, November 1, 2018): Gross output (GO), the top line of national accounting that measures spending at all stages of production, continued to build on the growth from the first quarter and advanced at an even faster pace … Continued
US Economy Continues to Expand, but Business Spending Slows Temporarily
Washington, DC (Friday, July 20, 2018): Gross output (GO), the top line of national accounting that measures spending at all stages of production, continued to expand in the first quarter, but at a slower pace than the previous quarter. Based … Continued
If GDP Lags, Watch the Economy GO
‘Gross output’ reflects the full value of the supply chain, and it portends much faster growth. Reprinted from THE WALL STREET JOURNAL. By Mark Skousen The Bureau of Economic Analysis will release its preliminary first-quarter growth figure on Friday. According … Continued
Away We GO: Business Spending Accelerates in 4th quarter 2017
Washington, DC (Thursday, April 19, 2018) Gross output (GO), the top line of national accounting that measures spending at all stages of production, accelerated economic growth to record levels in the 4th quarter 2017. Based on data released on … Continued