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Economic growth is the increase or improvement in the inflation-adjusted economy in a financial year. [2] The economic growth rate is typically calculated as real Gross domestic product (GDP) growth rate, real GDP per capita growth rate or GNI per capita growth.
The figures are from the International Monetary Fund (IMF) World Economic Outlook Database, unless otherwise specified. [1] This list is not to be confused with the list of countries by real GDP per capita growth, which is the percentage change of GDP per person taking into account the changing population of the country.
Annual Real Gross Domestic Product Growth Rate — 1930 through 2022. Following the end of World War II and the large adjustment as the economy adjusted from wartime to peacetime in 1945, the collection of many economic indicators, such as unemployment and gross domestic product (GDP) became standardized.
Stagflation is a word used to describe the combination of inflation and bleak economic conditions, including slow GDP growth. Stagflation can also last longer and be harder for officials to solve ...
The Atlanta Fed's GDPNow tool, which uses already released data to forecast the quarterly pace of economic growth, now projects GDP fell by 2.8% in the first three months of the year, down from ...
Whereas economic development is a policy intervention aiming to improve the well-being of people, economic growth is a phenomenon of market productivity and increases in GDP; economist Amartya Sen describes economic growth as but "one aspect of the process of economic development".
For the least developed countries, the economic target is to attain at least a 7 percent annual growth in Gross Domestic Product (GDP). In 2018, the global growth rate of real GDP per capita was 2 per cent. [4] Over the past five years, economic growth in least developed countries has been increasing at an average rate of 4.3 per cent. [5]
Historically there has been a close correlation between economic growth and environmental degradation: as communities grow in size and prosperity, so the environment declines. This trend is clearly demonstrated on graphs of human population numbers, economic growth, and environmental indicators. [13]