Along with today’s release of the preliminary estimate of second quarter GDP, we have a new definition of GDP involving the recognition of R&D as investment. Until a few years back, only expenditures ...

As part of the ongoing exercise to update the GDP base year, the government will use several more datasets on the expenditure side to improve the sources of data and enable more accurate estimation of ...

The International Comparison Program (ICP) comparisons of gross domestic product (GDP) are based on the value of an individual item equaling the product of its price and quantity (that is, the ...

Purchasing power parities (PPPs) are primarily used to convert economies’ national accounts expenditures on GDP and its components into a common currency. PPPs control for differences in price levels ...