Businesses and organizations that provide services instead of physical products.
Service industries
A measure of how prices for typical household goods and services change over time in the UK.
Retail price index
The average income per person, adjusted for inflation, showing what people can really buy.
Real income per
capita
The income you earn adjusted for inflation, showing what you can really buy.
Real income
The value of everything a country produces, adjusted to remove the effect of inflation.
Real GDP
The money people can actually spend or save, adjusted for inflation.
Real disposable
income
A method to compare how much goods and services a unit of money can buy in different countries.
Purchasing power
parity
How much goods and services your money can buy.
Purchasing power
How much output is produced per unit of input (like per worker or per hour).
Productivity
The average income each person in a country earns.
Per capita incomes
The money you earn, not adjusted for changes in prices.
Nominal income
The value of everything a country produces, measured in current prices.
Nominal GDP
How happy and satisfied people in a country feel with their lives overall.
National happiness
Making goods from raw materials, usually in factories, to sell or use.
Manufacturing
How well a country’s economy is doing overall, measured by growth, jobs, prices, and trade.
Macroeconomic
performance
