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Meaning & use

economic growth

noun·Academicbusiness

Last updated

UK/ˌiːkənɒmɪk ˈɡrəʊθ/
US/ˌiːkənɑːmɪk ˈɡroʊθ/

Meanings

  1. noununcountablebusiness

    An increase in the amount of goods and services a country produces over time.

    Grammar: No plural or 'a': economic growth slowed.

    Patterns

    • economic growth in something
    • economic growth of number percent

    Economic growth slowed to one percent last year.

    The government wants policies that support economic growth.

    Rapid economic growth pulled millions of people out of poverty.

  2. noununcountablebusiness

    The expansion of businesses, jobs and wealth in a particular area or sector.

    Grammar: Often followed by in or of a place: economic growth in rural areas.

    Patterns

    • economic growth in a region
    • drive economic growth

    New factories brought economic growth to the town.

    Tourism has driven economic growth in the region.

    The city hopes the new port will spur economic growth.

Common combinations

stimulate economic growth
Lower taxes may stimulate economic growth.
sustainable economic growth
Leaders say they want sustainable economic growth.
slow economic growth
Slow economic growth led to job losses.
promote economic growth
The plan aims to promote economic growth in small towns.
economic growth rate
The economic growth rate reached four percent.

Synonyms and how they differ

expansion
Expansion is a wider word that can describe any business or economy getting bigger, whereas economic growth is the standard measured term.
development
Development includes improvements such as health and education, while economic growth only counts output.
boom
A boom is a short period of very fast growth, so it is stronger and shorter than economic growth.
prosperity
Prosperity describes the resulting wealth, while economic growth names the process of increasing output.

Opposites

recessioneconomic decline

Word family

economy noun
a country's system of money, trade and industry
economic adjective
relating to the economy
economist noun
an expert in the study of the economy
grow verb
to increase in size or amount

Commonly confused: economic growth or economical?

economic growth vs economical

Economical means cheap or not wasteful, while economic means relating to the economy.

Practice

Falling exports and weak spending led to slow ___ last year.

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