average annual rate of growth

The average annual rate of growth is a measure used to express the average increase or decrease in a particular quantity, such as economic output, population, or investment value, over a specified period of time, typically calculated on an annual basis. It is derived by taking the nth root of the total growth factor, where n is the number of years, and then subtracting one. This metric provides a consistent and comparable rate of change across different timeframes, allowing for easier analysis and comparison of growth trends.