Real GDP
Definition
A measure of economic output adjusted for price changes, used to compare production over time. It does not by itself measure well-being or how income is distributed.
Canada
How does real GDP differ from nominal GDP in Canada?
Real GDP measures changes in production after accounting for prices. If an economy produces the same amount and prices rise, nominal GDP can grow while real GDP stays flat.
Statistics Canada national accounts glossaryUnited States
What does annualized U.S. real GDP growth mean?
The headline quarterly growth rate often shows what would happen if that quarter’s pace lasted four quarters. Real GDP growing 0.5% in one quarter is roughly 2.0% annualized. That differs from comparing output with the same quarter a year earlier.
U.S. Bureau of Economic Analysis GDP