Economic growth rate

(redirected from GDP Growth Rate)

Economic growth rate

Economic Growth Rate

The change in a nation's GDP from one period of time (usually a year) to the next. The economic growth rate shows by how much GDP has grown or shrunk in raw dollar amounts. It is considered one of the most important measures of how well or poorly an economy is performing. It is calculated thusly:

Economic growth rate = (GDPyear 2 - GDPyear 1) / GDPyear 1 * 100

The economic growth rate does not adjust for inflation; therefore, the real economic growth rate is sometimes considered more accurate. One may use GNP instead of GDP in calculating the economic growth rate, but this is rare.
References in periodicals archive ?
The external factors are going to continue exerting a negative influence on the economy in Macedonia and the GDP growth rate is going to decline from last year's 3 percent to 1.
Macedonia surpassed the expectations and projections of the IMF of April this year of a GDP growth rate of 3 percent.
Before revealing the statistics about the GDP growth rate in the last quarter of2012, the government economic team announced a positive zero for the whole year.
During the last 5 months, real GDP growth rate constituted 99.
The National Bank of Macedonia lowered the GDP growth rate projection to 2.
The lengthy document sets out the government projections about the GDP growth rate, the industry, and the labor market, and also defines the guiding principles of the fiscal policies.
Real GDP growth rate is projected at 7% in 2013, 7.
The GDP growth rate also made it possible for the unemployment rate to fall under the psychological limit of 30 percent for the first time ever, said Prime Minister Nikola Gruevski.
4 times compared with that of the 9th Five-Year Plan period, with an average annual growth of 23%, which is much higher than the GDP growth rate of 9.
Despite a sharp decline in consumer and business confidence in the fourth quarter, a positive GDP growth rate should be expected in the upcoming report," stated Michael R.
We expect to close this year with a GDP growth rate of at least 3.