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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"According to the simple average of growth rates forecasted by nine foreign institutions that estimate and forecast Lebanon's GDP, the average real GDP growth rate is likely to slightly improve from 1.1 percent in 2013 to 2.1 percent in 2014."
Blue Chip forecasters predict that the real GDP growth rate will slacken in the coming quarters but still remain above its long-term average for the rest of the year.
The Philippines posted a real GDP growth rate of 5.3 per cent in 2006, 7.1 per cent in 2007, 3.8 per cent in 2008 (during the global financial crisis that hit developed countries), and 0.9 per cent in 2009.
"Sustained substantial investments have been made in economic diversification and the development of physical and social infrastructure, which has contributed to real GDP growth rate of more than 5pc in the region over the past decade," he said.
Real GDP growth rate is projected at 7% in 2013, 7.6% in 2012 and 7.8% in 2015, Deputy Economy Minister Sanzhar Mukanbetov said at the session of the parliamentary committee for budget and finances today.
About 40 percent respondents surveyed estimate that the country's real GDP growth rate would be between 7-7.5 percent by the end of the current fiscal.
In 2009-2010, Lebanon registered a 9 percent real GDP growth rate. In 2009, real GDP grew by 1 percent in Lebanon despite the financial crisis taking over, and in 2010 Lebanon and Yemen led regional growth, registering 7 percent increases.
Thanks to the growth of service industries including tourism, Sri Lanka achieved a real GDP growth rate of between eight and nine percent since the end of the conflict through 2012 and has maintained steady growth of approximately five percent for the past three years.
The new methodology also meant the real GDP growth rate for fiscal 1998 was revised sharply upward to minus 0.7% from minus 1.9%, the agency said.
After the revision, the real GDP growth rate for 2002:IVQ was still only about half of its long-term average of 3.0% (annual rate).
In general the UAE is going to witness average real GDP growth rate of 5 per cent in the next five years.
"Real GDP growth rate is projected to moderate to six per cent in 2012, with real hydrocarbon GDP slowing down to three per cent, as LNG production remains constant due to the self-imposed moratorium on new hydrocarbon projects.