A Special Joe Primer

If you get foggy at the mention of interest rates, or bleary-eyed while trying to wade through an article in the Wall Street Journal, we've written this page for you: a bare-bone primer on the major numbers economists throw around.

GDP

GDP (Gross Domestic Product) is the most common number used to show how large – and also how strong - a nation's economy is. It is the dollar value of all goods and services a nation produces, including those produced abroad. Sometimes you'll see GDP per capita – or person – to show how comparatively rich or poor a nation is. GDP growth tells how fast an economy is growing, which – for many economists – is the ultimate sign of a healthy economy.

GDP: $14.4 trillion (2008)  BEA

The current GDP (as of the 2nd Quarter of 2009) is estimated to be $14.4 trillion.

GDP growth over the years