According to GDP statistics from 2021, China’s most productive provinces and cities are listed below. According to the National Bureau of Statistics, China’s GDP in 2021 was RMB 114.4 trillion (US$17.7 trillion), up around RMB 13 trillion (US$3 trillion) from 2020, or 8.1 percent year-on-year growth (NBS). What percentage of China’s GDP is 2020? According […]
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GDP is a rough estimate of a society’s standard of living because it does not directly account for leisure, environmental quality, health and education levels, activities undertaken outside of the market, changes in income disparity, improvements in diversity, increases in technology, or the… Why is GDP a good indicator of happiness? The Gross Domestic Product
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A flat yield curve, in effect, tells the market that institutions and individuals with money to lend are concerned about lending it in the future, so they elect to lend it now. In a recession, fewer loans will be written since the market will be less active overall. What exactly does a flattening yield curve
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Summary. In the United States, annual inflation rates have consistently ranged between 2% and 4% over the last two decades. In the United States, what level of inflation is considered normal? The Federal Reserve has not set a formal inflation target, but policymakers usually consider that a rate of roughly 2% or somewhat less is
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It indicates the total value of all commodities and services produced inside a country’s borders over a given time period. Economists can use GDP to evaluate if a country’s economy is expanding or contracting. GDP can be used by investors to make investment decisions; a weak economy means lower earnings and stock values. What is
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In 2021, real GDP is expected to expand by 5.6 percent, before increasing by 3.7 percent in 2022 and 2.4 percent in 2023. Supply difficulties will gradually subside, allowing businesses to restore inventories and boost demand growth in the short run. In 2021, what will the GDP be? Retail and wholesale trade industries led the
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The so-called “subprime mortgage crisis” has been linked to the Great Recessionalso known as the 2008 Recessionin the United States and Western Europe. Subprime mortgages are house loans given to people who have bad credit. Their mortgages are classified as high-risk. Mortgage lenders were less stringent in terms of the types of borrowers they authorized
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Inflation was predicted to climb in February, but not at the same pace as in January. France’s inflation rate was 3.6 percent in February, up from 2.9 percent in January (the Reuters consensus forecast was 3.2 percent ). The harmonised index of consumer prices (HICP), which is crucial to the European Central Bank (ECB) and
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Low inflation typically indicates that demand for products and services is lower than it should be, slowing economic growth and lowering salaries. Low demand might even trigger a recession, resulting in higher unemployment, as we witnessed during the Great Recession a decade ago. Deflation, or price declines, is extremely harmful. Consumers will put off buying
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For instance, if prices in an economy have risen by 1% since the base year, the deflated number is 1.01. If nominal GDP is $1 million, real GDP equals $1,000,000 divided by 1.01, or $990,099. How do you compute the real GDP growth rate? The percentage change in real GDP per capita between two consecutive
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