Definition Of Gross Domestic Product (gdp) In Insurance

Definition of "Gross domestic product (gdp)"

Dave Freudenberg, Real Estate Agent Rinker Realty

Measurement of the nominal value of all goods and services produced in a one year period. This production includes that by United States-owned companies as well as by production plants located in the United States and owned by foreign companies. As GDP increases, there is a tendency for company profits and interest rates to rise as well. Conversely, as GDP decreases, there is a tendency for company profits and interest rates to also decline. These figures are published on a quarterly basis by the United States Department of Commerce.