Yet Another Dispute Over GDP; What’s Really on the Fed’s Mind?

(Before It's News)

by Mike “Mish” Shedlock
MISH’S Global Economic Trend Analysis

Disputes over GDP go on and on and on. MarketWatch reports By another measure, the U.S. economy was ho-hum in second quarter.

There are two ways to compute how well the economy is doing.

One is to tally all the goods and services produced during a given time period — that’s called gross domestic product.

Another is to measure all the incomes earned in the production of those goods and services — that’s called gross domestic income.

Over time, they should be exactly the same. But measurement isn’t easy, and so the Commerce Department not only reports both figures, but also for the first time on Thursday averaged the two together.

Continue Reading at GlobalEconomicAnalysis.Blogspot.com…

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