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A Historical Look
Real GDP: total value of goods & services
produced in a nation, adjusted for inflation
Economic growth: percent change in real
What is the typical behavior of economic
growth over time and during the business
Quarterly growth rates catch turning points in
the economy more quickly; typically reported
at SAAR (seasonally adjusted annualized
Components of GDP
 Many
ways to break down GDP, the most
useful from a business perspective is
based on spending by different groups
(consumption, investment, government
purchases, net exports)
 Understanding what impacts each
component helps to better predict future,
short-term economic performance