ST: Made in Singapore' inflation

[yeokiwi]

So real growth will be negative. I think its fair that the politicians receive no bonus this year.

Economic growth is the increase in the amount of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Growth is usually calculated in real terms, i.e. inflation-adjusted terms, in order to net out the effect of inflation on the price of the goods and services produced. In economics, "economic growth" or "economic growth theory" typically refers to growth of potential output, i.e., production at "full employment," which is caused by growth in aggregate demand or observed output.

The actual growth is higher but the real GDP is net of inflation.
http://www.mas.gov.sg/resource/eco_resea...pments.pdf

Me no economist though.
So take my word with a big teaspoon of salt.