According to BMO, the economy historically grows faster during leap years
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Historically, leap years are good for the economy.
When there is an extra day in the year, gross domestic product growth is better than in years without a day, according to an analysis by BMO. From 1948 to 2019, the average GDP growth in leap years is 3.60% compared to 3.06% in other years.
The reason for this additional growth is simple, says BMO. Since there is an extra day, companies and individuals often use this time to work, adding 0.38% of work to the year. This is similar to the additional GDP in leap years.
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