What is GDP and why does it matter?

Gross domestic product (GDP) is a key government statistic calculated every quarter to measure the UK's total economic activity.

It is the sum of all goods and services produced in the economy, including the service sector, manufacturing, construction, energy, agriculture and government.

Put simply, if GDP is positive in the last three months, the economy is growing and if it is negative, it is contracting. However, the growth is subject to the figure, for example 0.5 indicates slower economic growth than ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...