Does GDP typically refer to Real GDP or Nominal GDP? I previously believed GDP typically refers to nominal and real GDP is specified explicitly. However, in data sources like this, does it refer to Real GDP growth or Nominal GDP growth? Real GDP growth seems to be the more useful figure which makes me reconsider what GDP refers to by default.
Edit: Apologies I originally posted the wrong link. The link is now updated to the world bank data source.
The dataset states &quot;Annual percentage growth rate of GDP per capita based on constant local currency&quot; so it real GDP growth in this case.
GDP can refer to both nominal and real GDP, there is no preferred meaning. You have to read what is written in text/dataset.