diff --git a/matlab/utilities/dataset/quarterly2annual.m b/matlab/utilities/dataset/quarterly2annual.m
index 13c6bafd9..3b3599c56 100644
--- a/matlab/utilities/dataset/quarterly2annual.m
+++ b/matlab/utilities/dataset/quarterly2annual.m
@@ -139,7 +139,8 @@ switch type
 end
 
 % annual growth rate
-gyass = GYTREND0*4;
+% gyass = GYTREND0*4; % this is for log diff
+gyass = exp(4*GYTREND0)-1; % this is for exact growth rate definition
 gya = (ya+yass)./(lagged(ya,1)+yass).*exp(4*GYTREND0)-1-gyass;
 
 if islog