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What is an 'Economic Growth Rate' An economic growth rate is a measure of economic growth from one period to another in percentage terms. This measure does not adjust for inflation; it is expressed in nominal terms.
[Growth rate = (Ending Value-Beginning Value) / Beginning Value]. The growth rate from 2001 to 2002 is ($1,300,000 - $1,200,000)/$1,200,000 = 8.3%.