The gross domestic product (GDP) is the primary indicator of a nation’s overall economic health. It represents the total value of all goods and services produced over a specific period of time and is often used as a measure of the size of a country’s economy. The GDP calculation includes things like personal/consumer spending, business spending, government spending, imports and exports. Usually, GDP is expressed as a comparison to the previous quarter or year. For example, if the Q4 2018 GDP of a country is up 2.2%, the economy of that country has grown by 2.2% over the third quarter. While quarterly growth rates are a periodic measure of how the economy is performing, annual GDP figures are often considered the benchmark for the size of the economy. GDP is often referred to as the economic report card of a country. As the grade improves, it can be an indicator of more jobs, rising wages, and better profits for businesses.
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