Gross output

Gross output is an economic concept used to measure total economic activity in the production of new goods and services in an accounting period. It is a much broader measure of the economy than gross domestic product (GDP), which is limited mainly to final output (finished goods and services). In 2015, the Bureau of Economic Analysis estimated gross output in the United States to be $31.6 trillion, compared to $18.1 trillion for GDP.

GO is defined by the Bureau of Economic Analysis (BEA) as “a measure of an industry's sales or receipts, which can include sales to final users in the economy (GDP) or sales to other industries (intermediate inputs). Gross output can also be measured as the sum of an industry's value added and intermediate inputs.”

It is equal to the value of net output or GDP (also known as gross value added) plus intermediate inputs.

Gross output represents, roughly speaking, the total value of sales by producing enterprises (their turnover) in an accounting period (e.g. a quarter or a year), before subtracting the value of intermediate goods used up in production.