GDP growth forecast: Eastern Europe, U.S., U.K. and Germany 2010-2024
Annual gross domestic product (GDP) growth projections for the U.S., U.K., Germany and Eastern Europe from 2010 to 2024*
Annual gross domestic product (GDP) growth rates were 2.86 percent for the United States, 1.40 percent for the United Kingdom, 1.45 percent for Germany, and 3.96 percent for Eastern Europe in 2018. The projection for the United States rose in the near term, but all were expected to slow down by 2024.
What is GDP?
GDP is an important indicator to measure the economic strength of a country. It is the sum of all the consumption, investment, government expenditures, and net exports in a country. For this reason, consumer confidence can give an idea of future GDP growth. Similarly, stock exchanges such as the S&P 500 index can give an idea of the investment trends in an economy. Government spending tends to be more constant, and net exports are generally a smaller component of overall GDP. In fact, a negative trade balance can fuel an economy by boosting domestic consumption and investment.
Not included in GDP
GDP does not account for some factors. For example, existing infrastructure is not a part of the GDP calculation, though a thriving economy would be impossible without it. Nevertheless, GDP is the most widespread measure of economic performance because of its simplicity and wide scope.
Annual gross domestic product (GDP) growth projections for the U.S., U.K., Germany and Eastern Europe from 2010 to 2024*
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Statistics on "Economic Outlook Latvia"
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