Growth rate refers to the percentage change in an indicator over a specific period of time. In terms of GDP, it represents how much an economy has expanded or contracted compared to previous periods.
Related terms
Positive/Negative Growth Rate: Positive growth rate indicates expansion, while negative growth rate suggests contraction or recession.
Annualized Growth Rate: The growth rate expressed on an annual basis by compounding shorter periods' rates together.
Potential Growth Rate: The maximum sustainable growth rate that an economy can achieve without causing inflationary pressures.