What does "on year" mean?
Native speaker’s answer
Rebecca
It means something similar! "On year" (or year on year) are expressions used to commonly describe financial or economic related situations. It can be understood as meaning "in/per given year" or "compared to the same period of the previous year." Ex: The company saw revenue drop by 23% on year. Ex: London's housing market has plunged by 30% on year.