Nominal GDP


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Nominal GDP

Gross domestic product without or before accounting for inflation. Comparing nominal GDPs from year to year shows the amount an economy has grown or shrunk in dollar amounts, but does not show how the buying power of those dollars has been affected. Real GDP accounts for inflation. For example, if the nominal GDP has grown 10% and the inflation rate is 3%, the real GDP growth is 7%.
References in periodicals archive ?
'At present, inflation lowers nominal GDP by less than 3 percentage points.
However, the correct relevant nominal GDP estimatesalso from Department of Statisticsare 2014: $8,569.9 million; 2015: $8,735.6 million; 2016 $8,944.3 million.
Assuming real economic growth of 2 percent or more, Japan still sees nominal GDP of 582.7 trillion yen in fiscal 2020, and a primary budget deficit of 5.5 trillion yen, the Cabinet Office said.
The Financial Services sector accounted for 16.4% of Bahrain's real GDP in 2015, whereas its nominal GDP share was 16.7%.Manufacturing made up 14.6% of real GDP and 16.8% of nominal GDP.
Elsewhere, I have argued that the Fed's discretionary approach did very poorly during the Great Recession and that the Fed should adopt level targeting of nominal GDP (Sumner 2012).
The government set a nominal GDP growth target of 4.5 percent for next year slowing down from 5 percent estimated for this year.
In particular, it considers whether the baseline projections for nominal GDP growth exceed the rate of nominal GDP growth required to finance expected growth in public spending.
It will be the sixth time since 1980 that global nominal GDP contracts in dollar terms and the second biggest contraction since 2009," economists at Bank of America Merrill Lynch, or BofAML, said in the latest Global Economic Weekly.
NBS explained that in the second quarter of 2014, Nigeria's Nominal GDP (at basic prices) was estimated at 21.7 billion naira and16.1 billion naira in real terms.
"The UAE economy appears the most diversified in the GCC with Abu Dhabi is still heavily oil-dependent with hydrocarbons as a proportion of nominal GDP and government revenues reaching 55 per cent and 65 per cent, respectively.
The low percent inflation measure used to deflate nominal GDP in recent quarters is unrealistic, as Americans who make purchases are aware.
• Demographics - Statistical data on India population, households, businesses, nominal GDP, nominal GDP per Capita, consumer price inflation, exchange rates (local currency and US dollar)