As an indication of the slowing down in the economy, China’s GDP growth rate is decreased to 7.4% in 2014.
This is the lowest growth rate in the last 24 years of China’s economic history. The growth rate in 2013 was 7.7%.
What is GDP?
- Gross Domestic Product
- The market value of all the finished goods and services produced within a country’s borders, in a year
- GDP is commonly used as an indicator of the economic health of a country
What is GDP growth rate?
The rate at which a nation’s Gross Domestic product (GDP) changes/grows from one year to another
