GDP is still the GOAT of economic statistics despite its many flaws

The Gross Domestic Product (GDP) remains the primary indicator of a country's economic status, despite its limitations. This is because GDP effectively measures a nation's overall production, providing a comprehensive view of its economic performance. The strong correlation between GDP and quality of life measures, such as poverty rates and life expectancy, underscores its significance in assessing a country's well-being. As a result, GDP continues to be a widely used and influential metric in economic analysis and decision-making.

Read the source report: Economic Times