How accurately do gdp statistics portray the economy and why?

Gross domestic product (GDP) is the money related estimation of all the completed merchandise and enterprises created inside a nation's fringes on a particular day and age. In spite of the fact that GDP is typically figured on a yearly premise, it can be ascertained on a quarterly premise too. Gross domestic product measurement incorrectly depict the economy on the grounds that the extent of GDP estimations

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LearnGrow LearnGrow · Answer 2 · 2018-08-10T12:29:07+02:00

Gross domestic product (GDP) is one of the primary indicators for the economy health. It represents the monetary value of all the finished goods and services produced within a country's borders in a specific time period.

GDP can be calculated as following: private consumption + gross investment + government investment + government spending + (exports – imports)

Just because they are official and numerical does not mean they are accurate. The scope of GDP measurements can change so it is inaccurately.