GDP growth
/ɡɛdp ˈɡroʊθ/ · GDP ˈgroʊθ
noun
- The rate of increase in a country's or region's Gross Domestic Product (GDP) over a given period, typically a year or quarter. The country's GDP growth rate has been steadily increasing over the past decade.
- A measure of the rate of expansion of a country's or region's economy, often used as an indicator of economic health. The GDP growth rate is a key factor in determining a country's credit rating.
verb
- To experience or cause a country's or region's economy to grow rapidly. The country's GDP growth has been fueled by investments in technology and infrastructure.
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Did you know? The concept of GDP growth has been used as a key indicator of economic performance since the 1930s, when it was first introduced by Simon Kuznets.