Current Issues in Economics and Finance
The Relationship between Manufacturing Production and Goods Output
August 2004 Volume 10, Number 9
JEL classification: E32, E23, C82

Author: Charles Steindel

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.

PDF full articlePDF 7 pages / 212 kb
Press release
Related New York Fed Content
By continuing to use our site, you agree to our Terms of Use and Privacy Statement. You can learn more about how we use cookies by reviewing our Privacy Statement.   Close