Comments from Howard Lutnick, the commerce secretary, indicate potential changes in how G.D.P. is reported, aiming to separate government spending from economic indicators. This move has sparked concerns about possible interference with federal statistics, particularly if recession indicators emerge. Despite there being accepted definitions of G.D.P., which includes various economic components, Lutnick suggests transparency may be needed. Economists also cite final sales to private domestic purchasers as a preferred measure, suggesting stronger growth in recent quarters compared to overall G.D.P. recent indicators show signs of economic slowdown.
You know that governments historically have messed with G.D.P., he said. They count government spending as part of G.D.P. So I'm going to separate those two and make it transparent.
The basic definition of gross domestic product is widely accepted internationally and has been unchanged for decades. It tallies consumer spending, private-sector investment, net exports, and government investment and spending.
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