Gross domestic product (GDP) is one of the most well-known and closely watched economic indicators. It aims to measure the amount of goods and services produced in an economy in a given time period. Less well known is that there is more than one way to measure GDP. All measures should provide the same number, at least in theory; but owing to measurement error, this rarely happens. The most common GDP measure is the expenditure approach: C + I + G + (X – M) = GDP.[i] We also have the income approach: wages plus profits. The least utilized approach is sectoral or industry GDP. As its name suggests, this method builds ... (full story)