Gross Domestic Product

The index report I read described the purposes of Gross Domestic Product (GDP). It explains that GDP is the most powerful measure of the value of our economic production. The report states that Gross Domestic Product is the most looked-into indicator of our economy floating around out there. It is presented quarterly.
The report is used to gauge the health of the American economy based on a basic equation: GDP = Consumption + Government Expenditures + Investment + Exports - Imports.
Although this is a simple equation, and many factors might be added in, this is the basic idea and use of Gross Domestic Product.
However, the GPA can be considered weak because it is released quarterly. The untimelyness of the report can make the information somewhat irrelevant.
Perks of the Gross Domestic Product report include the fact that it includes inflation. Without including inflation, the data can be flawed. GDP is also considered the best measure of economic growth and output.
I believe the Gross Domestic Product report is the most useful measure of American economy and is incredibly important. Without the GDP, we could only guess as to how slowly or quickly our economy is growing or shrinking.