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Economics vocabulary · GDP and Growth

Economic growth

Meaning in economics, with examples

nounCore term

In economics, economic growth means: An increase in the amount of goods and services an economy produces over time, usually measured as the percentage change in real GDP.

In Turkish: ekonomik büyüme, büyüme

How it is used

Often just growth in the news: growth slowed to 2%, growth picked up. Governments aim to boost or support growth; economists separate short-term growth from long-term growth, which depends on productivity, investment and population.

Example sentences

  1. Economic growth slowed to 2.1% last year as exports weakened.

  2. Without higher productivity, long-term economic growth is hard to sustain.

Common collocations

  • strong economic growth
  • sustainable growth
  • boost growth
  • growth forecast
  • growth slows
  • GDPShort for gross domestic product: the total value of all final goods and services produced within a country in a given period, usually a quarter or a year.
  • productivityHow much output is produced from a given amount of input, most often measured as output per worker or per hour worked.
  • recessionA significant fall in economic activity lasting months, with falling output, income and jobs; often defined as two quarters in a row of shrinking GDP.
  • business cycleThe repeated pattern of ups and downs in economic activity, moving from expansion to a peak, then to contraction and a low point, and back to recovery.
  • recoveryThe period after a recession or crisis when output, jobs and incomes start to grow again and move back towards their earlier level.

More terms: GDP and Growth

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This page explains English vocabulary for learners. It is not financial advice.