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economic growth
Rate of growth of output of all goods and services in an economy, usually measured as the percentage increase in gross domestic product or gross national product from one year to the next. It is regarded as an indicator of the rate of increase or decrease (if economic growth is negative) in the standard of living.
Economic growth is negative during a recession, as it was in the UK in 1991 and 1992, when it was −2.5% and −1.0% respectively.
From the Hutchinson Encyclopedia of World History. © Research Machines plc [2006] All Rights Reserved, Helicon Publishing is a division of Research Machines.
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1776: United States declares independence
After a decade of economic conflict with Great Britain, the 13 colonies answer King George III's... More >
After a decade of economic conflict with Great Britain, the 13 colonies answer King George III's... More >
Ancient Chinese Sports
Catapulting viewers into a sporting world that few knew existed, a world that thrived centuries... More >
Sat 4 Jul 9.00pm |
The Plague (Part 2 of 2)
In 1437, the worst biological disaster in history swept... More >
Sat 4 Jul 10.00pm |