Vital Signs 2010 by The Worldwatch Institute;

Author:The Worldwatch Institute;
Language: eng
Format: epub
Publisher: Island Press
Published: 2010-09-15T00:00:00+00:00

Growth in World Economic Output Slows

Gary Gardner

The world’s total output of goods and services, known as the gross world product (GWP), rose by 5.4 percent in 2008, to $69 trillion.1 (See Figure 1.) The rate of growth, a deceleration from the heated 7.5 percent annual average of the previous five years, was dampened by the global recession that emerged during the year.2 (See Figure 2.) The data are calculated based on the purchasing power parity exchange rate, which converts national output to a common currency that reflects equivalent purchasing power across countries.3

Figure 1. Gross World Product, 1980–2008

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