gross domestic product News

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Movement for Happiness Launches in Britain

LONDON -- Is there a science of happiness? A growing band of economists, politicians and academics thinks so -- and is putting theory into practice by starting a "mass movement for a happier society." Action for Happiness launched today in London, encouraging hugging, meditation and random acts of kindness. It is getting...

China Surpasses Japan as World's No. 2 Economy

For the past three years, China has boasted that it was the world's second-largest economy -- a title held by Japan since 1968. Japanese economists normally downplay such claims but finally accepted today that their country had been eclipsed by its fast-growing neighbor. According to official figures from Japan's Cabinet...

Retail Sales Rise 1.2 Percent in October

WASHINGTON (Nov. 15) -- Retail sales, helped by strong demand for autos, increased in October by the largest amount in seven months. The Commerce Department reported Monday that retail sales rose 1.2 percent last month. That was nearly double the gain that had been expected and the largest increase since March. Much of...

Obama Seeks Small Biz Aid as Recovery Inches Along

(Oct. 29) -- American economic growth picked up over the summer but not enough to substantially improve the jobs market, and President Barack Obama used the news to push a program aimed at getting small businesses to hire and invest. U.S. gross domestic product, the broadest measure of goods and services produced within...

Dementia's Costs Pegged at More Than $600 Billion

(Sept. 21) -- The cost of diagnosing dementia and caring for its sufferers will spike to $604 billion this year, according to new findings. That figure represents 1 percent of the world's gross domestic product. A report issued today by Alzheimer's Disease International, a consortium of 73 organizations worldwide, warns...

Background on gross domestic product

Gross domestic product (GDP) refers to the market value of all officially recognized final goods and services produced within a country in a given period.

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