GDP

Gross Domestic Product (GDP) is a measure of the size of the economy.

GDP = Consumption + Investment + Government Spending + Exports - Imports.

In recent years GDP has been growing due to both increases in consumption and government spending. These increase have helped keep the unemployment figures low (see statistic).

  • The increases in consumption has been fuelled by increasing housing prices (negative equity withdraw), and
  • The increase in government spending by increased tax.

See also

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