Economic Growth Rate

The Economic Growth Rate measures how much a country's economy is expanding over a period, typically a year. It is calculated by comparing the total value of goods and services produced (GDP) in one year to the previous year. A positive growth rate indicates the economy is growing, leading to more job opportunities and higher incomes. Conversely, a negative rate suggests economic contraction. This metric helps policymakers and investors understand overall economic health and make informed decisions. Essentially, it's a way to measure how well a country's economy is doing over time.