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Average Annual Rate of Growth and Rounding of Data

January 13, 2023

In some statistical tables in Woods & Poole publications, data are presented for the average annual rate of growth for a particular variable over a specified time period.  The average annual rate of growth is the compounded growth of a variable over time.  Thus, a 3.0% average annual rate of growth between 1970 and 1980 for population would mean that, on average, the population increased 3.0% each year between 1970 and 1980.  An average annual rate of growth can be calculated by dividing the data year t+n by data year t and calculating the nth root of the quotient (where n is the number of years between t and t+n).  Subtract one and multiply by 100 to convert the growth into percent.  A negative average annual rate of growth would mean a decline in the variable over time.

For some variables, data are rounded in the Woods & Poole database.  Data for the U.S., states, […]

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