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Tag: Gross Domestic Product (GDP)

Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a specific time period by countries. GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) may be more useful when comparing living standards between nations, while nominal GDP is more useful comparing national economies on the international market. Total GDP can also be broken down into the contribution of each industry or sector of the economy. The ratio of GDP to the total population of the region is the per capita GDP and the same is called Mean Standard of Living.

GDP definitions are maintained by a number of national and international economic organizations. The Organization for Economic Co-operation and Development (OECD) defines GDP as “an aggregate measure of production equal to the sum of the gross values added of all resident and institutional units engaged in production and services (plus any taxes, and minus any subsidies, on products not included in the value of their outputs)”. An IMF publication states that, “GDP measures the monetary value of final goods and services—that are bought by the final user—produced in a country in a given period of time (say a quarter or a year).”

GDP is often used as a metric for international comparisons as well as a broad measure of economic progress. It is often considered to be the “world’s most powerful statistical indicator of national development and progress”. However, critics of the growth imperative often argue that GDP measures were never intended to measure progress, and leave out key other externalities, such as resource extraction, environmental impact and unpaid domestic work. Critics frequently propose alternative economic models such as doughnut economics which use other measures of success or alternative indicators such as the OECD’s Better Life Index as better approaches to measuring the effect of the economy on human development and well being.

Moody’s Says 22 States Are Already in Recession Despite Strong Overall GDP
Posted inEconomy

Moody’s Says 22 States Are Already in Recession Despite Strong Overall GDP

USNN World Newsby USNN World NewsOctober 11, 2025October 11, 2025

By Tom Ozimek Moody’s Analytics chief economist Mark Zandi says 22 U.S. states are already in recession, despite that national figures show the overall economy growing at a 3.8 percent pace and unemployment holding at 4.3 percent. In a new interview with Fortune that builds on his late August analysis, Zandi said that much of […]

US Foreclosure Filings Jump 17 Percent to 101,000 Properties
Posted inEconomy

US Foreclosure Filings Jump 17 Percent to 101,000 Properties

USNN World Newsby USNN World NewsOctober 10, 2025October 10, 2025
Roughly 56,000 Home Purchase Contracts Canceled in August: Report
Posted inEconomy

Roughly 56,000 Home Purchase Contracts Canceled in August: Report

USNN World Newsby USNN World NewsOctober 9, 2025October 9, 2025
Government Shutdown Costing US Travel Economy $1 Billion per Week, Group Says
Posted inEconomy

Government Shutdown Costing US Travel Economy $1 Billion per Week, Group Says

USNN World Newsby USNN World NewsOctober 8, 2025October 8, 2025
US Condo Sellers Struggle to Divest Properties, Outnumber Buyers by 72 Percent
Posted inEconomy

US Condo Sellers Struggle to Divest Properties, Outnumber Buyers by 72 Percent

USNN World Newsby USNN World NewsOctober 6, 2025October 6, 2025
Wall Street Review: Stocks Hit New Records Despite Government Shutdown
Posted inEconomy

Wall Street Review: Stocks Hit New Records Despite Government Shutdown

USNN World Newsby USNN World NewsOctober 5, 2025October 5, 2025
US GDP Could Take a Hit From Shutdown, Says Treasury Secretary Bessent
Posted inEconomy

US GDP Could Take a Hit From Shutdown, Says Treasury Secretary Bessent

USNN World Newsby USNN World NewsOctober 4, 2025October 4, 2025
US Services Sector Stalls in September: ISM
Posted inEconomy

US Services Sector Stalls in September: ISM

USNN World Newsby USNN World NewsOctober 3, 2025October 3, 2025
Nearly 1 in 5 US Home Sellers Cuts Listing Prices in September: Report
Posted inEconomy

Nearly 1 in 5 US Home Sellers Cuts Listing Prices in September: Report

USNN World Newsby USNN World NewsOctober 2, 2025October 2, 2025
US Job Openings Flat in August as Labor Market Holds Steady
Posted inEconomy

US Job Openings Flat in August as Labor Market Holds Steady

USNN World Newsby USNN World NewsSeptember 30, 2025September 30, 2025
US Real Estate Industry Cautiously Optimistic About Fall Market
Posted inNational News

US Real Estate Industry Cautiously Optimistic About Fall Market

USNN World Newsby USNN World NewsSeptember 28, 2025September 28, 2025
More US Shoppers Plan to Buy ‘Made in USA’ This Holiday Season: YouGov
Posted inEconomy

More US Shoppers Plan to Buy ‘Made in USA’ This Holiday Season: YouGov

USNN World Newsby USNN World NewsSeptember 27, 2025September 27, 2025

Posts pagination

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