The analysis of the intensity of changes in the dynamics is carried out using indicators that allow you to compare levels. These include the following: growth rate, the absolute value of the percentage of growth, absolute growth. To summarize the dynamics of the phenomenon, average indicators are used. Indicators of the analysis of the dynamics of the phenomenon can be determined by variable bases or by a constant comparison base. A comparable level is called the reporting level, and the level with which the comparison is carried out is called the base level.
The growth rate shows how many percent the subsequent indicator of the series is in comparison with the previous or initial level. In other words, the growth rate is understood to mean the growth of an economic value over a certain period, usually over a year.
The calculation formula is as follows: Tp = yn / yn-1. This indicator can be expressed as a percentage or in a ratio. To obtain data in percent, you need to multiply the result by 100%. The growth rate can only be expressed as a positive number.
Also, chain growth rates and basic growth rates are distinguished. As already noted, to assess the dynamics indicators in comparison with a constant base, each level must be compared with a constant base. As the basic level, either the initial indicator in the selected series of dynamics or the level from which the stage of development of the studied phenomenon began can be used. Indicators calculated in this way are called basic. When calculating on a variable base, the subsequent level of a number of dynamics must be compared with the previous one. These indicators are chain. There is a correlation between basic growth rates and chain growth rates. If we multiply all consecutive chain values of growth rates, then the product will be equal to the base coefficient for the entire analyzed period. In addition, when dividing the subsequent basis coefficient by the previous particular number, it will be equal to the corresponding coefficient of the chain index.
Economic growth
Worldwide, economic growth is accompanied by qualitative and quantitative changes in society, among which the most important is structural transformation. For countries that have already embarked on the path of intensive economic development, industrialization, a decrease in the share of the agricultural sector’s GDP, an increase in education, a decrease in illiteracy, and an increase in life expectancy are most characteristic.
The type of economic growth influences the rate of economic growth. In the process of transition to the intensive type, the growth rate may decrease in comparison with the extensive type. But this does not mean a slowdown in economic development or its decline. With the extensive type, the economy retained a structural characteristic, proportions, and developed in breadth. With an intensive type, the economy develops not only thanks to the expansion of production, but also thanks to progressive structural changes. The solution to this problem becomes the reason that increasing the pace becomes harder. In addition, in a saturated market, it is not always advisable to increase the growth rate. In this case, development is ensured through the improvement of technology, which is inevitable. Production becomes obsolete, new technologies and new resources appear with a new level of quality and efficiency.
Economic growth in Russia
According to the Ministry of Economic Development, in November this year, GDP growth slowed down to 1.9% compared to November last year. In October, the economic growth rate was 2.3%, and in September - 2.7%. On an annualized basis, the pace has been dropping for the past six months.
From January to November, the country's economic growth rate reached 3.5%. For the first half of the year, the indicator was 4.5%.