Definition of «real economic growth»

Real economic growth refers to an increase in a country's or region's productive capacity, often measured by increases in real GDP (Gross Domestic Product), which takes into account inflation and other factors. This means that there is an expansion of the economy over time, leading to higher levels of output, income, employment, and consumption. Real economic growth can be driven by various factors such as increased investments, technological advancements, improvements in education and healthcare, and favorable government policies. It generally leads to a rise in living standards for people within the economy, as well as an increase in wealth and prosperity.

Sentences with «real economic growth»

  • Without that kind of real economic growth, stock market rallies can only survive on vapour for so long before crashing painfully back to earth. (economywatch.com)
  • Thus, if real economic growth equals 2 % per year, and population growth equals 2 % per year, then the social discount rate should be zero. (realclimate.org)
  • Does this mean that the budget will need to be balanced (or in a surplus) when real economic growth is 2 per cent or more? (3dpolicy.ca)
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