GDP

Definition

Initialism of gross domestic product.

Example Sentences

• "Economics is a messy discipline: too fluid to be a science, too rigorous to be an art. Perhaps it is fitting that economists’ most-used metric, gross domestic product (GDP), is a tangle too. GDP measures the total value of output in an economic territory. Its apparent simplicity explains why it is scrutinised down to tenths of a percentage point every month."
• "Or take Wikipedia. Supported by investments of time rather than money, it has left the old Encyclopedia Britannica in the dust – and taken the GDP down a few notches in the process."
• "Global GDP is projected to grow by 3.1% this year, and by just 2.2% in 2023, according to the latest forecast from the Organization for Economic Cooperation and Development (OECD)."