Macroeconomics For The Average Joe
GDP (gross domestic product) is the total value of all goods and services produced in a country over a period of time.
In the US, the Bureau of Economic Analysis publishes GDP every quarter, usually reported as an annualized growth rate after adjusting for inflation ('real GDP'). Each quarter gets an advance estimate followed by two revisions.
GDP growth is the broadest scorecard of the economy. Strong growth usually means more jobs; shrinking GDP raises recession worries.
GDP (gross domestic product) is the total value of all goods and services produced in a country over a period of time.
It is the quarter's growth rate scaled up as if it continued for a full year, so quarters can be compared with yearly figures.
GDP adjusted for inflation, so it reflects changes in how much was produced rather than changes in prices.
Recession · Real vs. nominal · Inflation · Unemployment rate
All plain-English definitions → · Educational only, not investment advice.