How do I calcualte a countries Real GDP from QoQ changes?
Example - Australia
2018 - Real GDP was 1432195178668.32 $Billion
2019 Q1 was 0.5%
2019 Q2 was 0.6%
2019 Q3 was 0.4%
How do I calculate real GDP on Q3?
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Assuming 1432195178668.32 was the last value in Q4 2018 you got, just calculate 1432195178668.32 * (1.005) to get the 2019 Q1 Value, save the value. Then take 2019 Q1 * (1.006) to get the next value etc. Easy to do via R or Excel.
Basically if you had an increase x just multiply by (1+x) where x is in decimals, so a change of -0.75 % becomes * (1 - 0.0075)
Then, simply take the average of the four quarters if you want the annual value: $$ \frac{(Q1.2019 + Q2.2019 + Q3.2019 + Q4.2019)} {4} $$
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$\begingroup$ The annual GDP would be the sum of the 4 quarterly GDPs, not the average. $\endgroup$ – Art Dec 10 '19 at 5:34
