Growth rate

Analysis of the intensity of changes in dynamics is carried out using indicators that allow for the comparison of levels. These include the following: the growth rate, the absolute value of the percentage growth, the absolute increase. Average values are used to generalize the dynamics of the phenomenon. Indicators of the analysis of the dynamics of the phenomenon can be determined from variable bases or from a constant basis of comparison. A comparable level is usually called a reporting level, and the level with which a comparison is made is called the baseline level.

The rate of growth shows how many percent the subsequent indicator of the series is in comparison with the previous or with the initial level. In other words, the growth rate is understood as the growth of any economic value over a certain period, as a rule, over a year.

The calculation formula is as follows: Tp = yn / yn-1. This indicator can be expressed in percent or in a factor. To obtain the data in percent, the result must be multiplied by 100%. The rate of growth can be expressed only by a positive number.

Also, the chain rates of growth and the basic rates of growth are singled out. As already noted, in order to assess the dynamics indicators in comparison with a permanent base, each level must be compared with an unchanged base. As a baseline level, either the initial indicator in the selected series of dynamics can be used, or the level at which the stage of development of the phenomenon under study began. Indicators, calculated in this way, are called basic. When calculating the variable base, the next level of the series of dynamics must be compared with the previous one. These indicators are chain. Between the basic growth rates and the chain growth rates there is a relationship. If we multiply all successive chain values of growth rates, then the product will be equal to the basic coefficient for the entire analyzed period. In addition, when dividing the next base factor by the previous partial number will be equal to the corresponding coefficient of the chain index.

Rate of economic growth

Worldwide, economic growth is accompanied by qualitative and quantitative changes in society, among which the most important is structural transformation. For countries that have already embarked on the path of intensive economic development, first of all, industrialization is typical, the share of the agrarian sector in the GDP is decreasing, the level of education is growing, illiteracy is reduced, life expectancy is growing.

The growth rate is influenced by the type of economic growth. In the process of transition to an intensive type, the growth rates may decrease in comparison with the extensive one. But this does not mean slowing economic development or its decline. With the extensive type, the economy retained a structural characteristic, proportions, developed in breadth. With an intensive type, the economy develops not only through expansion of production, but also due to progressive restructuring. The solution of this problem becomes the reason that it is becoming more difficult to increase the pace. In addition, with a saturated market, increasing the growth rate is not always advisable. In this case, development is provided by the improvement of technology, which is inevitable. Production is becoming obsolete, new technologies and new resources are emerging with a new level of quality and efficiency.

Economic Growth in Russia

According to the Ministry of Economic Development, in November this year, GDP growth slowed to 1.9% compared to November last year. In October, the growth rate of the economy was 2.3%, and in September - 2.7%. In the annual comparison, the pace has been declining for the last six months.

Over the period from January to November, the growth rate of the country's economy reached 3.5%. For the first half of the year the indicator was 4.5%.