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economic growth |
Also found in: Dictionary/thesaurus, Financial, Wikipedia, Hutchinson | 0.04 sec. |
economic growthProcess by which a nation's wealth increases over time. The most widely used measure of economic growth is the real rate of growth in a country's total output of goods and services (gauged by the gross domestic product adjusted for inflation, or “real GDP”). Other measures (e.g., national income per capita, consumption per capita) are also used. The rate of economic growth is influenced by natural resources, human resources, capital resources, and technological development in the economy along with institutional structure and stability. Other factors include the level of world economic activity and the terms of trade. See also economic development. |
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| We are seeing very low population growth and very strong economic growth in Ventura County," said Bill Watkins, executive director of the UCSB Economic Forecast Project and a former research economist at the Federal Reserve. Governor Jon Corzine has named Mark Yeager, president of the National Association of Industrial and Office Properties, New Jersey Chapter (NJ-NAIOP), to his newly created Economic Growth Council. economic growth as currently measured is not sustainable, because the stocks of natural and environmental resources that ultimately determine economic growth are unsustainable. |
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economic growth
