Unless otherwise defined, the – excess over or shortfall in the value of output, understood as sales of goods and services to other economic units, changes in stocks of own products and the value of own-account produced fixed capital goods, – after deduction of intermediate consumption costs, compensation of employees and taxes on production less subsidies, – but before taking into account property income and capital formation costs. – Cf. ECB Annual Report 2006, p. 257 (Glossary).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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