Producerservicesaretaken as intermediateinputs by theproducersofothergoodsorservices in theservices industry and the refined productsof the social divisionof large-scale production.
Mr Hatzius suggests that they may be undercounting imports of intermediate inputs of goodsandservices produced abroad by American firms that have outsourced jobs to cheaper countries.
Gross value added is calculated at the level of branches of the economy as the value of output of goodsandservices less the value of intermediate consumption.