Real Economic Growth Rate

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Real Economic Growth Rate

The change in a nation's GDP after accounting for inflation. The economic growth rate (or GDP growth) shows how much GDP has grown or shrunk in raw dollar amounts and may not be an accurate accounting of how well or poorly an economy is performing. The real economic growth rate adjusts for how much buying power has been affected and therefore provides a more accurate view. For example, if the economic growth rate is 10% and the inflation rate is 3%, the real economic growth rate is 7%. See also: Real GDP, Nominal GDP.
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O'Neill said on ABC's This Week program he has no doubt Japan could attain real economic growth rates of 4% to 5% if it takes correct action, such as writing off assets that exist only on the books.