Meaning of “real GDP” in the English Dictionary

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"real GDP" in Business English

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real GDPnoun [ U ]

uk us

ECONOMICS, FINANCE the total value of goods and services produced in a country in a particular year, taking inflation into account:

real GDP grows at/by 2.5%/5%, etc. Figures published this week show that real GDP grew by 2.3% in the final quarter of last year.
Real GDP per head has fallen by 12% in the past three years.

(Definition of “real GDP” from the Cambridge Business English Dictionary © Cambridge University Press)