The best indicator of economic growth is the level of employment, particularly in the formal sector. Employment often reflects new business creation and higher household consumption as well.

There are many different indicators of economic growth. Generally, the higher the GDP growth, the better it is (that’s why some countries like China are so successful while others like India or Brazil struggle to maintain their GDP).

Economic Growth In short, economic growth is the increase in the production and the income of the economy. The most important indicator of economic growth is the gross domestic product (GDP). This represents total output produced by a country's labor and capital resources.

Economic growth is the key to raising standard of living for the whole population of a country. Economic growth is measured by the production of goods and services (GDP) for an area's economy. GDP is what we pay attention to when it comes to measuring this metric, because you can compare someone's growth of GDP over time with someone else's and easily see who is growing more quickly or slowly