Steph McGovern with a chart showing how GDP has behaved until now
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What is GDP and why does it matter?

25 April 2013 Last updated at 07:45 BST

Gross Domestic Product takes into account everything we spend our money on - but what does a dip in its value mean?

Steph McGovern explains why the figure is so important, and what it means for business, jobs and your pocket.