From the article: “Since 1980, factory output has grown 114%”.
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Do you know how this number is calculated?
Is it the total number of widgets produced?
Is it the total retail dollar value of all widgets produced?
Or what?
It appears to be the total dollar value of all widgets produced.
“Manufacturing output refers to the total inflation-adjusted value of output produced by manufacturers. Announcements of manufacturing output include month-over month and year-over-year changes in manufacturing production.”
Source:
http://www.wikinvest.com/wiki/Manufacturing_Output