gross domestic product

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  • noun

Synonyms for gross domestic product

the measure of an economy adopted by the United States in 1991


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References in periodicals archive ?
According to World Bank estimates of GDP per head converted to equal purchasing power US dollars, Thailand leads.
New analysis in the report reveals that in the five years since 2010, Scotlands GDP growth is in line with the UK average and Scotlands GDP per head growth is above the UK average, when London is excluded.
But it means GDP per head, a measure of the nation's wealth on an individual basis, is only just getting close to pre-recession levels after seven years.
It means GDP per head - a measure which takes into account that the nation's wealth is shared by an expanding population - has now caught up with pre-crisis levels at the start of 2008.
The growth announced today takes GDP per head back to broadly level with its pre-economic downturn peak in Q1 2008.
GDP per head - at PS6,715 - is now just PS2 below its level in the first quarter of 2008.
7 percent increase in GDP growth in Q2 implies that GDP per head would be broadly equal to the pre-economic downturn peak in Q1 2008.
GDP per head has gone down by 22 per cent since 2009, unemployment is more than 25 per cent while one third of Greeks are threatened by poverty and social exclusion.
Of the eight biggest outside London, only Bristol beats the national average for GDP per head.
The welcome increase in economic activity is partly linked to population growth as GDP per head is still three per cent below 2007 levels.
He added: "With GDP per head not set to recover for three more years and most people still seeing their living standards squeezed, this is no time for complacent claims that the economy is fixed.
Shadow Chancellor Ed Balls warned about today's data, saying: "Not only is it two years later than the Chancellor's original plan said, and three years after the US reached the same point, it's also the case that GDP per head won't recover to where it was for around another three years - in other words, a lost decade for living standards.
He suggested that countries joining the bloc in the future be required to reach a certain level of GDP per head before their citizens are allowed to work anywhere in the EU, to stop "vast migrations" caused by income disparity.
The crisis brought to an end a long period during which regional disparities in GDP per head and unemployment were shrinking.
Taking 100 as the EU average across all 27 member states, Wales as a whole had a GDP per head of 81.