Economic Growth Rates (Real GDP YoY)

Economic growth, when measured by a change in the gross domestic produc (GDP), is the increase in the amount of goods and services produced by an economy over time. GDP Growth is usually calculated in real terms in order to take into account the effect of inflation on the price of goods and services. All economies experience periodical expansions or recessions and the short-run variation of economic growth is known as the business cycle. The United States has the world's largest economy by GDP, according to the World Bank. Yet, China's fast-growing economy should surpass that of Japan by 2020 and top the U.S. economy around 2050 to become the world's largest.

Latest News on GDP Growth

Canada’s Economy Shrank
Published: 12/29/2008 8:06:40 AM By: TradingEconomics.com, Bloomberg.com

Canada’s economy contracted a less- than-anticipated 0.1 percent in October as wholesalers processed fewer shipments of automobiles and factory production dropped.

New Zealand Economy Shrinks 0.4%
Published: 12/23/2008 7:39:24 AM By: TradingEconomics.com, Bloomberg.com

New Zealand’s economy contracted for the third straight quarter, extending the nation’s first recession in 10 years and adding to the prospect the central bank will cut interest rates to a record low next month.

U.S. Economy Shrank 0.5% in Q3
Published: 12/23/2008 7:32:19 AM By: TradingEconomics.com, Bloomberg.com

The U.S. economy shrank in the third quarter at a 0.5 percent annual pace as the now year-old recession intensified.

U.K. Economy Shrinks
Published: 12/23/2008 7:24:46 AM By: TradingEconomics.com, Bloomberg.com

The U.K. economy shrank the most since 1990 in the third quarter and mortgage lending dropped to the lowest in 14 years as tightening credit exacerbated the slide into recession.

The Euro Area Could Be Heading to a Sharp Recession
Published: 12/9/2008 7:31:30 AM By: Anna Fedec, contact@tradingeconomics.com

Last week, after an unprecedented 75 basis points interest rate cut, the European Central Bank's President Jean- Claude Trichet finally acknowledged that the euro region's economy could shrink in 2009 for the first time since 1993.

Japan’s Economy Shrinks 1.8%
Published: 12/9/2008 5:39:04 AM By: TradingEconomics.com, Bloomberg.com

Japan’s economy shrank in the third quarter faster than the government initially estimated, after businesses cut spending and slashed inventories in anticipation of a prolonged recession.

Swiss Economy Can Avoid a Major Recession
Published: 12/3/2008 8:46:16 AM By: Anna Fedec

So far, the Swiss economy has performed better than its European neighbors. In fact, although Switzerland's leading economic indicators fell to the lowest level in more than five years in November and manufacturing contracted at the fastest pace since at least 1995, it happened at more gradual pace than in any other major economy.

Australia’s Economy Grows 0.1%
Published: 12/2/2008 7:47:42 PM By: TradingEconomics.com, Bloomberg.com

Australia’s economy grew last quarter at the weakest pace in eight years as household spending stalled, increasing pressure on the central bank to add to the biggest round of interest-rate cuts since a recession in 1991.

Canadian Economy Grew at 1.3%
Published: 12/1/2008 6:02:00 AM By: TradingEconomics.com, Statistics Canada

Real gross domestic product (GDP) increased 0.3% in the third quarter, after remaining essentially flat over the first half of the year. The Canadian economy grew at an annualized rate of 1.3% in the third quarter.

Is Russia on the Brink of Collapse?
Published: 11/29/2008 9:51:32 AM By: Anna Fedec, contact@tradingeconomics.com

Not a long time ago, with flowing foreign investments and rising oil prices, Russia’s economic growth outlook was startling. Yet, it didn't last that long. The global economic crisis which leads to a sharp drop in commodity prices is now endangering Russia’s ambition to become an economic power.