For actual GDP, such frequent and large forecast revisions are inevitable. Potential GDP, however, is supposed to be more stable, as it does not depend on demand side developments.

The aim of the concept of potential as opposed to actual GDP is to take into account that, like an engine, an economy often operates below or above potential. In a demand driven recession, actual output falls below potential, which results in a rise in unemployment.

Estimates are based on the amount of labor and capital available for production and an assessment of their joint productivity. And, because estimates differ, depending on the data and methods used, the concept is clear whereas its value is imprecise.

The gap between actual and potential GDP is thus a gauge of an economy s spare capacity. The distinction is also useful for policy purposes weak potential growth cannot be addressed by demand side initiatives supply side measures are needed.

As a result of a deep and persistent deficiency in aggregate demand, the US economy has been operating far below its potential output level. Real GDP fell by 8 relative to its noninflationary potential in 2008 2009, and has remained about 8 below its previous growth path ever since.

But such a sharp decline in potential growth typically implies a powerful brake, in the form of an external shock or major internal adjustments. Under normal circumstances, an economy s potential growth rate adjusts naturally and gradually, as structural change progresses.

The unemployment rate remains about two percentage points higher than what most economists consider consistent with a full recovery, and the labor force participation rate is hovering near historic lows. The economy is still operating far below its potential GDP is about 6 below what the economy is capable of producing at full capacity without higher inflation.

In the last five years, the Palestinian trade deficit with Israel as a percentage of GDP ranged between 32 per cent in 2002 and 40 per cent in 2004.

Just to show you what we plotted, here is income, GDP GDP of the city crime and patents all on one graph.

Stunted children often struggle to reach their potential in school and ultimately the workplace, diminishing economic productivity and development. A World Bank study found that under nutrition can cost an individual up to 10 of his or her potential lifetime earnings, and as much as 3 of a country s GDP.

France s debt GDP ratio is already around 90 even if its 2013 budget deficit does not exceed 3.5 of GDP, its debt GDP ratio will have climbed to 93 by the end of the year. The government s GDP share, at 56 , is the highest in the eurozone and second highest among all developed countries.

Latent leader.

Country A, in 1990, had about 300 per capita GDP as compared with Country B, which had 460 in per capita GDP.

By focusing exclusively on foreigners and domestic elites for investment, Afghanistan is missing out on the vast potential of micro entrepreneurs and small businesses to contribute to steady GDP growth. Achieving long overdue peace and stability will be impossible without them.

The International Monetary Fund s estimate of the output gap (see its World Economic Outlook database) for both countries does not suggest that, as of 2014, the UK is more cyclically depressed than the US. Indeed, in the IMF s estimates at least, the opposite is the case.

The IMF initially projected that Greece s real (inflation adjusted) GDP would contract by around 5 over the 2010 2011 period, stabilize in 2012, and grow thereafter. In fact, real GDP fell 25 , and did not recover.

HDD heating degree days index of the considered year

According to recent UNCTAD estimates, the cumulative economic opportunity cost in terms of loss of potential income over the period 2000 2004 is estimated to be 6.4 billion (1997 dollars), or 140 per cent the size of the Palestinian GDP before 2000.

Geothermal potential amounts to 990 MW and wind potential to 600 MW.

When I was in the navy I was on submarine duty once, and when you get down there...

Command a submarine in a deep ocean environment

Scuba divers can't get there, submarines go right on past it.

Thus, the economic stimulus provided by the German state budget will amount to 4.4 of GDP in 2009. In the United States, the budget deficit in 2008 stood at 5.8 of GDP, and, according to the same OECD forecast, will amount to 10.2 of GDP in 2009, which translates into exactly the same economic stimulus as in Germany, 4.4 of GDP.

The Black Hole in America s GDP

On a trip through India, early in his reign as king, he was asked by an Indian journalist about the Bhutanese GDP, the size of the Bhutanese GDP.

This is a potential threat.

It's way below your cognitive thinking process.

(iv) Facilitate mobilization of potential resources

Potential funding sources

Actual and Potential Parties

Last in Europe GDP per capita.

By 2008, Country A has surpassed Country B with 700 per capita GDP as compared with 650 per capita GDP.

Hardest to understand, though, is why India is underperforming so much relative to its potential. Indeed, annual GDP growth has fallen by five percentage points since 2010.

Although output is now higher than it was in the fourth quarter of 2007, it remains far below what could be produced if labor and capacity were fully utilized. That gap between actual and potential output is estimated at more than 7 of GDP (more than 1 trillion).

And this is GDP per capita on this axis.

The Hidden Purposes of High Finance

Let's see how long we can stay under.

But the divers are still looking,

With industrial tariffs already dramatically reduced most potential benefits of trade liberalization have already been grasped. Estimates of the benefits of further trade liberalization are often surprisingly low no more than a few percentage points of global GDP.

(a) Potential suppliers should already be indicated.

It was a potential State.

(d) Reduce the underlying risk factors

Actual or potential trade barriers

Drive in pink Come alive in pink

This was a harpoon gun... he was, er, skindiving.