For example, the growth rate of automobile retail sales increased by percentage points from .% in to .%, while the growth rate of nonpolicyaffected retail sales fell by percentage points from .% in to .% during the same period due to the impact of the international financial crisis. The relative growth rate of automobiles and nonpolicyaffected categories increased by percentage points, which partly reflects the boost brought by policies. As the policy was subsequently withdrawn, the overdraft effect began to emerge. In , the growth rate of automobile retail sales was .%, . percentage points lower than the growth rate of retail sales not affected by the policy. This was percentage points lower than the difference in the compound growth rates of the two from to[].
The cumulative multiplier refers to the ratio of the cumulative retail sales ivory coast phone number list boosted by the policy to the cumulative fiscal expenditure since the policy was implemented, reflecting the cumulative boost effect of the policy implementation so far. For example, if the fiscal subsidy in the first year is billion yuan, which drives additional consumption of billion yuan, then the current multiplier is . The policy was withdrawn in the second year, the current fiscal subsidy was , and the overdraft effect resulted in additional consumption of billion yuan in the current period. At this time, the cumulative fiscal subsidies by the second year are += billion yuan, and the cumulative consumption driven is = billion yuan. Therefore, the cumulative multiplier of the policy by the second year is.