Real economic activity refers to any actual production, consumption or exchange of goods and services that takes place within an economy. Full definition
The efforts of central banks to stimulate activity through monetary measures has succeeded in keeping interest rates very low, but have not resulted in any significant uptick in real economic activity. (bnnbloomberg.ca)
The financial sector has grown at the expense of real economic activity. (alt-m.org)
You can't create more real capital or more real economic activity by moving numbers around on paper. (nakedcapitalism.com)