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Real vs Nominal GDP

Discussion in 'The Economy' started by svetsi, 8th Apr, 2018.

  1. svetsi

    svetsi New Member

    Joined:
    29th Mar, 2018
    Posts:
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    VIC
    I know what both of these are (Real and Nominal GDP) but I'm trying to figure out how the ABS got these figures. I know nominal GDP is adjusted for inflation so I've included the CPI Change and the CPI deflator below. I don't suppose anyone can show me how the ABS got their real GDP figure below? Thanks

    Date ------GDP Nominal ------ GDP Real
    Sep-1959 --- 60097 ------ 56905
    Dec-1959 --- 60734 ----- 57801
    Mar-1960 --- 61516 ------ 58751



    Date-------
    CPI change
    Sep-1959 ----- 1.40
    Dec-1959 ----- 1.40
    Mar-1960 ----- 0.00
    Jun-1960 ----- 1.30


    Date------- CPI
    Sep-1959 ------ 7.4
    Dec-1959 ------ 7.5
    Mar-1960 ------ 7.5
    Jun-1960 ------ 7.6