Real GDP

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Real GDP

Inflation-adjusted measure of Gross Domestic Product.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Real GDP

Gross domestic product after accounting for inflation. Comparing real GDP from year to year shows the amount an economy has grown or shrunk and how this actually affects the economy because they show how the buying power of money has been affected. Nominal GDP, on the other hand, does not account for inflation. For example, if the nominal GDP has grown 10% and the inflation rate is 3%, the real GDP growth is 7%.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
An initial aggregate supply curve is drawn to intersect these two aggregate demand curves at [E.sub.0] such that the starting equilibrium price and real gross domestic product levels are [P.sub.0] and [Q.sub.0], respectively.
Figure 1 illustrates the substantial similarity between the combined ratio and the real gross domestic product by graphing the series' spectral densities.
WASHINGTON - The World Bank said Wednesday it has revised upward its projection for global economic growth to 3.3 percent for 2010 in terms of real gross domestic product, against an earlier estimate of a 2.7 percent rise in January.
He said Spain's economy had been in a long growing phase since the mid-1990s, with a real gross domestic product increase of three per cent to 3.5 per cent annually.
Real gross domestic product fell by 0.7 percent in the second quarter of 2009 after real GDP fell 6.4 percent, according to the "third" estimate released today by the U.S.
With respect to aggregate supply, there appears to be universal agreement that the long-run aggregate supply curve is vertical at the full-employment level of real gross domestic product. On the other hand, while Hall and Papell depict the short-run aggregate supply curve only or always as horizontal, Blanchard, Gwartney et al., McConnell and Brue, O'Sullivan and Sheffrin, Samuelson and Nordhaus, and Williamson show it as positively sloped.
With expanded private investment and moderate inflation, the government projects real gross domestic product (GDP) growth of 2.2 percent in 2005.
The past relationship between the PMI and the overall economy indicates that the average PMI for January through April (62.5%) corresponds to a 7.2% increase in real gross domestic product (GDP).
This country signaled a strong cyclical upswing with a real Gross Domestic Product growth of 7.2% in the third quarter and 3.3% in the second.
The IMF's World Economic Outlook said Thursday the growth forecast for Japan's real gross domestic product (GDP) for 2001 has been revised down to 0.6% from 1.8% projected last October.
The country's real gross domestic product (GDP) will grow by a range of 1 to 3% in 1999, following a 0.5% decline in the previous year, the IMF said in a yearly country-by-country economic assessment report.
Although growth in real gross domestic product appears to have slowed in the spring, this slackening came on the heels of a dramatic surge in the opening months of the year; all indications are that the expansion remains well intact.