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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.
Specifically, population growth rate refers to the change in population over a unit time period, often expressed as a percentage of the number of individuals in the population at the beginning of that period. This can be written as the formula, valid for a sufficiently small time interval: