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Optimists note that consumer spending is unlikely to slow as long as hourly wages are perking along at a nominal annual pace of about 4percentt, about 1.5 percentage points above the inflation rate.
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Most loan terms mention the "nominal annual interest rate," but you probable aren't paying your loan off in annual installments.
Average house prices across China are rising at an annual rate of 8%, with double-digit gains in some cities, such as Shenzhen and Beijing.In a developed economy such increases might seem a little bubbly, but not in one in which nominal GDP is growing at an annual pace of 15%.
Even the expansion of bank credit has slowed to an annual pace of 15%, not much faster than nominal GDP growth.In this section Too hot to handle Monopoly money Great expectations Partying like it's 1999 The Georgian knot Underwear and overdrafts Rocks below the surface ReprintsIn contrast, India's economy displays an alarming number of signs that things have gone too far.
Nominal GDP growth in the G7 rich economies has increased at an annual pace of only 2% over the past two quarters.Since its bubble burst in 2000, America's real GDP growth has remained faster than that in the euro area and Japan.
The interest rate specified should be the nominal annual interest, even if interest is calculated more frequently.
While nominal wage growth continued on its path through the fall, prices fell at a double-digit annual pace in the last three months of 2008.
But nominal growth slowed last year to 9.8 percent and fell again in the first half of this year, to an annual pace of 8.8 percent.
Output grew at a 3.6% annual pace in the third quarter of the year.
That was the fastest annual pace since 2006.
Equipment and software investment rose at a 12.4% annual pace.
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