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In the words of one academic economist, "The actual number for GDP is, therefore, the product of a vast patchwork of statistics and a complicated set of processes carried out on the raw data to fit them to the conceptual framework." [16] China officially adopted GDP in 1993 as its indicator of economic performance. Previously, China had relied ...
The fourth quarter GDP report released Thursday provided some evidence that the US economy capped off a surprisingly strong year in 2024. While the headline number was softer than expected ...
An economic indicator is a statistic that conveys certain information about economic activity. Economic indicators allow investors to analyze the economic performance of a state, country or region, as well as make forecasts about future performance. For example, each quarter the United States releases data on gross domestic product (GDP). This ...
[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021.
On the other side of the aisle, House Ways and Means Chairman Jason Smith (R-MO) released a statement Tuesday downplaying the GDP numbers, saying the growth in Q4 was welcome but “underlying ...
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For older GDP trends, see List of regions by past GDP (PPP). UN estimates between 1970 and 1979. The following Table is based on UN GDP data. [2] [3]
GDP comparisons using PPP are arguably more useful than those using nominal GDP when assessing the domestic market of a state because PPP takes into account the relative cost of local goods, services and inflation rates of the country, rather than using international market exchange rates, which may distort the real differences in per capita ...