How do they measure economic growth

[Almendros]

Hi, After years of reading the newspapers I have yet to see economic growth explained. I understand a country's inflation figure which is based on a 'basket' of everyday commodities. What do they do to arrive at growth figures.
Is this the same as GNP (gross national product )?
Thanks, any info will be welcomed

[factor-fiction]

Growth is measured by the percentage yearly change in Gross Domestic Product (GDP).


http://www.tutor2u.net/economics/gcse/revision _notes/big_picture_economic_growth.htm

[Almendros]

Hi, thanks Factor 30, But it seems a very complex thing to arrive at and must be subject to a juggling of figures by the country if they wish. I am suprised that it does not go up and down by a wide margin. also if it is based on the first method i.e. cost of products produced then an increase in inflation would also increase economic growth. thanks , Almendros

[Thunderchild]

So this year there will be a 30 % inflation with fuel AND prices increases of 30 % per year well I figure we won't really be told the truth and that our lives are getting ever more expensive