Economic growth rate


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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 main work is the forecast the Chinese green economic growth rate by using time-varying correlation coefficient.
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In April, the BOT forecast that the country s economic growth rate for Y 2010 would be about 4.
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