🚀 go-pugleaf

In article <1993Jan9.000152.15495@cheshire.oxy.edu> tamada@cheshire.oxy.edu (Michael K. Tamada) writes:
>In article <1993Jan8.223758.13567@seq.uncwil.edu> bgoffe@seq.uncwil.edu (
Bill Goffe) writes:>
>>GDP is the value of all output in a country (even if it is produced
>>by a foreign firm in the U.S., say), while GNP (for the U.S.) is the
>>value of output by U.S. firms. Thus, it includes output by U.S. firms 
>>outside the U.S. and does not include output by non-U.S. firms in the
>>U.S. Thus, GDP better measures what is happening in the U.S.
>>
>>The change from GNP to GNP just recently occured in the U.S. I could
>>be wrong here, but I think that the U.S. is among the last to do so.
>>GDP if pretty much used around the world.

The other reason offered for the change was that the revisions to GNP due to 
missed forecasts of foreign production by U.S. firms was getting fairly 
large.  The size of the revisions, Commerce said, would drop with the 
switch to GDP.  After seeing the revisions of third quarter 1992 GDP, I 
wonder if they're still singing this song.