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  • Economic Calendar Terms

    CA GDP mm

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    All industries. Gross domestic product (GDP) by industry according to the 1997 North American Industrial Classification System (NAICS). Gross Domestic Product (GDP) measures summary value of goods and services generated in a relevant country or region. A region's GDP is one of the ways for measuring the size of its economy.

    There are three main approaches for calculating Gross Domestic Product: - Production approach - The sum of the value added created through the production of goods and services within the economy. - Income approach - Total income generated by the production of goods and services within the economy. - Expenditure approach - Total expenditures on all finished goods and services produced within the economy.