What is GDP and how do we measure it?

Car Factory Engineer in High Visibility Vest Using Laptop Computer in an Automotive Industrial Manufacturing Facility

Gross Domestic Product, more commonly known as GDP, remains the world’s most closely-watched economic indicator. Its growth – or lack of it – is used to measure economic progress. A positive GDP reading suggests an economy is growing, a negative one that it’s slowing down. But there is much more to GDP that just one number. In this post Craig McLaren is our guide to how GDP is calculated and how it’s best understood.  

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