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Economic & Labour Market Review

, Volume 4, Issue 7, pp 56–65 | Cite as

Measures of economic activity and their implications for societal well-being

  • Blessing Chiripanhura
Article

SUMMARY

Gross Domestic Product (GDP) is the most commonly used measure of a country's economic activity. GDP, however, has limitations as a measure of society's well-being and of people's material living standards. This article presents alternative measures of economic activity that may be more suitable indicators of society's well-being. The article explains how the different measures are calculated and the additional insights they offer.

Copyright information

© Crown copyright 2010

Authors and Affiliations

  • Blessing Chiripanhura
    • 1
  1. 1.Office for National Statistics

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