gross domestic product
noun
: the gross national product excluding the value of net income earned abroad
Example Sentences
Recent Examples on the Web The legislation was passed after the economy entered into a technical recession when the gross domestic product (GDP) dropped for a second consecutive quarter from April-June. 
Aubrie Spady, Fox News, 1 Sep. 2022 Economic output can be measured two different ways: gross domestic product, or gross domestic income. Jon Hilsenrath, WSJ, 28 Aug. 2022 Inflation is raging near 40-year highs, the S&P 500 is down 14% year-to-date, and U.S. gross domestic product (GDP) has contracted for two consecutive quarters, sparking a heated debate over whether or not the American economy is in a recession. Will Daniel, Fortune, 23 Aug. 2022 Technically speaking a recession is two back-to-back quarters of declining gross domestic product (GDP) which did occur in the first two quarters of 2022 but some economists see it more as stagflation than a recession. Yola Robert, Forbes, 12 Aug. 2022 That is one reason many economists believe the economy is not yet in a recession even though gross domestic product, the broadest measure of economic output, has contracted for two quarters in a row — one rule of thumb for the onset of a downturn. CBS News, 2 Aug. 2022 New numbers released on Thursday show gross domestic product, the broadest measure of economic activity, contracted for the second quarter in a row. Matt Egan, CNN, 29 July 2022 On Thursday, the Bureau of Economic Analysis reported that gross domestic product, a measure of the nation’s output, shrank for the second quarter in a row. Laurent Belsie, The Christian Science Monitor, 28 July 2022 More specifically, recessions occur when economic growth, measured by gross domestic product (GDP), is negative for two or more quarters in a row. Alexandra Kanik, San Antonio Express-News, 8 July 2022 See More
Aubrie Spady, Fox News, 1 Sep. 2022 Economic output can be measured two different ways: gross domestic product, or gross domestic income. Jon Hilsenrath, WSJ, 28 Aug. 2022 Inflation is raging near 40-year highs, the S&P 500 is down 14% year-to-date, and U.S. gross domestic product (GDP) has contracted for two consecutive quarters, sparking a heated debate over whether or not the American economy is in a recession. Will Daniel, Fortune, 23 Aug. 2022 Technically speaking a recession is two back-to-back quarters of declining gross domestic product (GDP) which did occur in the first two quarters of 2022 but some economists see it more as stagflation than a recession. Yola Robert, Forbes, 12 Aug. 2022 That is one reason many economists believe the economy is not yet in a recession even though gross domestic product, the broadest measure of economic output, has contracted for two quarters in a row — one rule of thumb for the onset of a downturn. CBS News, 2 Aug. 2022 New numbers released on Thursday show gross domestic product, the broadest measure of economic activity, contracted for the second quarter in a row. Matt Egan, CNN, 29 July 2022 On Thursday, the Bureau of Economic Analysis reported that gross domestic product, a measure of the nation’s output, shrank for the second quarter in a row. Laurent Belsie, The Christian Science Monitor, 28 July 2022 More specifically, recessions occur when economic growth, measured by gross domestic product (GDP), is negative for two or more quarters in a row. Alexandra Kanik, San Antonio Express-News, 8 July 2022 See More Word History
First Known Use
1951, in the meaning defined above