GDP zoomed at a robust 5.3% in the first quarter of 2006

Real GDP-- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 5.3 percent in the first quarter of 2006, according to preliminary estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 1.7 percent. 

. The price index for gross domestic purchases, which measures prices paid by U.S. residents, increased 2.8 percent in the first quarter, 0.1 percentage point more than in the advance estimate; this index increased 3.7 percent in the fourth quarter. 
. Real exports of goods and services increased 14.7 percent in the first quarter, compared with an increase of 5.1 percent in the fourth. Real imports of goods and services increased 12.8 percent, compared with an increase of 12.1 percent.
. Current-dollar GDP -- the market value of the nation's output of goods and services -- increased 8.8 percent, or $271.3 billion, in the first quarter to a level of $13,037.4 billion. In the fourth quarter, current-dollar GDP increased 5.2 percent, or $160.4 billion.

The acceleration in real GDP growth in the first quarter primarily reflected an upturn in PCE for durable goods, an acceleration in exports, an upturn in federal government spending, and an acceleration in equipment and software that were partly offset by a downturn in private inventory investment. Final sales of computers contributed 0.05 percentage point to the first-quarter growth in real GDP after contributing 0.33 percentage point to the fourth-quarter growth. Motor vehicle output subtracted 0.11 percentage point from the first-quarter growth in real GDP after subtracting 0.64 percentage point from the fourth-quarter growth.

Previous: « Existing-home sales slipped 2% in April

Next : » Corporate profits increased $116.5 billion or 7.9% in 1Q '06


  ABOUT    CONTACT Metrics 2.0 RSS Feeds RSS   Metrics 2.0 Widgets for your site or blog WIDGETS   ARCHIVES


Enter Email for Daily Feed Delivery: