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Third-Quarter Gross Output showed a surprising slowdown in economic growth, but will it continue? Economist Dr. Mark Skousen weighs in...

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Slowdown in Economy Won’t Last

Third-Quarter Gross Output showed a surprising slowdown in economic growth, but will it continue? Economist Dr. Mark Skousen weighs in…

The federal governmentâ??s Bureau of Economic Analysis (BEA) today released its second- quarter 2017 gross output (GO) report, and I was surprised that adjusted GO grew only 2.9% in nominal terms and only 1.7% in real terms.

Not only is this figure less than gross domestic product (GDP) growth, which was a robust 3.1%, but it was much less than the first-quarter GO numbers. Mining was the fastest-growing sector, but even that only grew 8%, compared to 62% in the first quarter.

Wholesale and retail trade grew hardly at all. My full press release can be found at www.mskousen.com.

GO is the top line in national income accounting. It incorporates spending at all stages of production and it also is a leading economic indicator. Adjusted GO hit $41.25 trillion in second-quarter 2017. GDP is the bottom line of federal accounting for economic growth and measures only the finished goods and services that form the final stage of production. GDP is now at $19.1 trillion.

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Written By

Mark Skousen is a college professor, prolific author and world-renowned speaker. Heâ??s made his unique sense of market and investment trends known and respected in the financial world. With a Ph.D. in economics and a focus on the principles of free-market capitalism and â??Austrianâ?ť economics, Mark Skousen has often gone contrary to the crowd in his investment choices and economic predictions â?? and has often been proved right.

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archive

Slowdown in Economy Won’t Last

The federal government’s Bureau of Economic Analysis (BEA) today released its second- quarter 2017 gross output (GO) report, and I was surprised that adjusted GO grew only 2.9% in nominal terms and only 1.7% in real terms.

Not only is this figure less than gross domestic product (GDP) growth, which was a robust 3.1%, but it was much less than the first-quarter GO numbers. Mining was the fastest-growing sector, but even that only grew 8%, compared to 62% in the first quarter.

Wholesale and retail trade grew hardly at all. My full press release can be found at www.mskousen.com.

GO is the top line in national income accounting. It incorporates spending at all stages of production and it also is a leading economic indicator. Adjusted GO hit $41.25 trillion in second-quarter 2017. GDP is the bottom line of federal accounting for economic growth and measures only the finished goods and services that form the final stage of production. GDP is now at $19.1 trillion.

To read the rest of “Slowdown in Economy Won’t Last,” please click here.

Newsletter Signup.

Sign up to the Human Events newsletter

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