Country GDP
Country GDP Glossary Definition
Gross Domestic Product. The market value of a nation's output of goods and services during a specific time period. In the US, the federal Bureau of Economic Analysis (BEA) estimates the US GDP in both current dollars and constant (inflation-adjusted) dollars on a quarterly basis.
To prepare its GDP estimates, the BEA uses a complex set of data sources and accounting techniques, known as the National Income and Product Accounts (NIPA) methodology. Collectively the NIPA is a system of accounts that not only describe the relationship between income and product in the US but also trace the principal economic flows among the major sectors and industries of the US economy.
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