How should we measure changes in an economy's standard of living, or compare living standards across countries? Typically, economists use GDP per capita as a proxy for a country's standard of living, ...

I’ve written a number of times on CD about the possible limitations of official GDP accounting methods (developed in the 1930s during the Machine Age) for measuring economic activity, output and ...

Gross domestic product (GDP) growth rate is the headline number everyone tracks to figure out how the economy is doing. It’s time we shifted focus to gross value added, or GVA, which is a more direct ...

The emergence of GDP as the unique talisman of economic well-being dates back to the post-war period. (iStock) The statistics ministry recently released a bunch of fresh data-sets related to India’s ...

GDP measures all final goods/services produced in a defined area, adjusted for inflation to show real growth. GDP growth rates, especially real GDP annually, are key indicators of economic activity ...