Gross Domestic Product (GDP)

The total currency value of all finished goods and services offered within a jurisdiction. It is a closely watched report on the health of the economy since the pace at which the economy is running determines the level of demand and employment and has implications for inflation and employment. The production of all goods and services across the economy is measured in dollar terms and the pace at which it changes is a key policy variable. The report breaks the economy into consumption, investment, net trade (exports minus imports) and government spending.