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The relationship between manufacturing production and goods output

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  • Charles Steindel

Abstract

The sharp divergence in the 2001 recession between two key economic indicators-manufacturing production and goods output-could suggest that one indicator is flawed, casting doubt on the reliability of its overall series. This analysis finds no evidence of error. Rather, the strength of spending on consumer-relative to capital-goods and the growth of merchandising services in the sale of consumer goods more likely explain the recent deviation.

Suggested Citation

  • Charles Steindel, 2004. "The relationship between manufacturing production and goods output," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 10(Aug).
    • Handle: RePEc:fip:fednci:y:2004:i:aug:n:v.10no.9
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    References listed on IDEAS

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    1. William D. Nordhaus, 2002. "The Recent Recession, the Current Recovery, and Stock Prices," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 33(1), pages 199-228.
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    Cited by:

    1. Robert E. Yuskavage, 2006. "Distributive Services in the U.S. Economic Accounts," BEA Papers 0064, Bureau of Economic Analysis.
    2. Faruqee, Hamid & Laxton, Douglas & Muir, Dirk & Pesenti, Paolo, 2008. "Would protectionism defuse global imbalances and spur economic activity? A scenario analysis," Journal of Economic Dynamics and Control, Elsevier, vol. 32(8), pages 2651-2689, August.
    3. Francesco Ravazzolo & Joaquin Vespignani, 2020. "World steel production: A new monthly indicator of global real economic activity," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 53(2), pages 743-766, May.
    4. Bruno Tissot & Les Skoczylas, 2005. "Revisiting recent productivity developments across OECD countries," BIS Working Papers 182, Bank for International Settlements.

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