First Quarter 2006 GDP Grows At 4.8% Rate

April 28, 2006
In the first of three reports on first-quarter 2006 GDP growth to be issued during the next two months, the U.S. Commerce Department figures the U.S. economy grew at an inflation-adjusted annual rate of 4.8% from January through March. The rate is right ...

In the first of three reports on first-quarter 2006 GDP growth to be issued during the next two months, the U.S. Commerce Department figures the U.S. economy grew at an inflation-adjusted annual rate of 4.8% from January through March. The rate is right in line with what economists generally expected and marks a solid rebound from the final quarter of 2005, when the economy grew at 1.7% annual rate.

The first quarter's better showing was a result of higher consumer spending, increased business spending on equipment and software, higher exports and greater government outlays, the department said as it released its initial report on April 28.

Inflation as measured by the GDP implicit price deflator was at an annual rate of 3.3% in the first quarter of 2006, matching the highest rate since the second quarter of 2004, with the exception of the fourth quarter of 2005 when the rate was 3.5%.

Inflation as measured by the core personal consumption expenditure (PCE) index, the Federal Reserve's favored metric, was 1.9% year-over-year, down from 2% in the final quarter of last year. The core PCE index excludes prices changes for food and fuel.

Popular Sponsored Recommendations

How to Build Zero-Cost On-Site Solar and Storage Projects

Nov. 25, 2023
The Inflation Reduction Act offers tax credits, incentives, and financing that enable no-cost projects. In Enel’s eBook, discover the critical role that incentives play in your...

Ecommerce Guide: How to Manage Order Volume Spikes

Oct. 2, 2023
Master the art of delivering a seamless ecommerce shopping experience! Learn how to streamline your operations to successfully manage seasonal sales order spikes.

Food and Beverage 2024 Trends and Outlook for North America

Oct. 29, 2023
Ready to hear what 200 of your peers said are the top challenges and opportunities in 2024? Don’t fall behind. Uncover actionable insights to better prepare for 2024 in this whitepaper...

Process Mining For Dummies

Nov. 19, 2023
Here it is. Everything you need to know about process mining in a single book, written in the easy-to-understand, hard-to-forget style that ‘For Dummies’ manages so effortlessly...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!