Question

In: Economics

What is considered a "good" amount of economic growth, as measured by an annual percentage increase...

What is considered a "good" amount of economic growth, as measured by an annual percentage increase in GDP?

Are there any concerns with "too much growth" or growth that is "too rapid"?

What was the highest annual GDP growth in the last 10 years?

What was the GDP growth rate last year?

Leave us a link as to who you are citing for the numbers or answers you leave.

Solutions

Expert Solution

SOLUTION : Household spending (7 percent compared to 8.6 percent in the previous period) and inventories (3.8 percent compared to 8.6 percent) slowed. On the other hand, government spending (12.7 percent compared to 7.6 percent), gross fixed capital formation (12.5 percent compared to 10 percent), exports (13.4 percent compared to 12.7 percent) and imports (25.6 percent compared to 12.5 percent) rose faster. Household spending accounted for 54.5 percent of the GDP (54.9 percent in Q2); gross fixed capital formation for 32.3 percent (31.6 percent in Q2); public expenditure for 12.4 percent (11.8 percent in Q2); and changes in stocks for 0.7 percent, the same as in Q2. Exports accounted for 21.8 percent (21.4 percent in Q2) while imports subtracted 26.6 percent (-24.7 percent in Q2).


Gross Value Added, that is, GDP excluding taxes expanded 6.9 percent, below 8 percent in the previous period. A slowdown was seen in financial, real estate and professional services (6.3 percent compared to 6.5 percent); manufacturing (7.4 percent compared to 13.5 percent in the previous period); agriculture, forestry and fishing (3.8 percent compared to 5.3 percent); and construction (7.8 percent compared to 8.7 percent); and mining shrank (-2.4 percent compared to 0.1 percent). On the other side, faster increases were seen for trade, hotel, transport, communication and services related to broadcasting (6.8 percent compared to 6.7 percent); and public administration and defence (10.9 percent compared to 9.9 percent).


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