Quarterly GDP

Gross Domestic Product (GDP) is the standard measure of the value of final goods and services produced by a country during a period minus the value of imports. "Gross" signifies that no deduction has been made for the depreciation of machinery, buildings and other capital products used in production. "Domestic" means that it relates to the output produced on the economic territory of the country. The "products" refer to final goods and services, that is, those that are purchased, imputed or otherwise, as: the final consumption of households, non-profit institutions serving households and government; fixed capital formation; and exports (minus imports). GDP should not be looked upon as an all-encompassing measure for societies' well-being, as it does not include several aspects of people's material living standards let alone other aspects of people's quality of life. Data are internationally comparable by following the System of National Accounts. This indicator is seasonally adjusted and it is measured in percentage change from previous quarter and from same quarter previous year and based on real GDP.

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Keywords: Gross domestic product, GDP