This is the essential, top-level measure of how our economy is performing.

What is being measured is the growth in Gross Domestic Product (GDP) on a 'real' or inflation-adjusted basis.

The statisticans at Statistics NZ measure this in two separate ways, each slightly different:

1. the Expenditure-based series is a measure of total final purchases in the economy and includes stock-building.

2. the Production-based series is a measure of the total value-added in the economy.

Our chart series is based on the Expenditure-base, mainly because most of the international comparatives use this basis.

Not everyone thinks GDP is all it is cracked up to be as a way to compare economies. In fact, the OECD has a 'Better Life Index' where you can set your own weightings for 11 key topics and then compare the member economies represented by the OECD. You can find that here>>