Real gross domestic product, the output of goods and services produced by labor and property located in the United States increased at an annual rate of 2.6 percent in the second quarter of 2006, according to final estimates released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 5.6 percent.
The GDP estimates released are based on more complete source data than were available for the preliminary estimates issued last month. In the preliminary estimates, the increase in real GDP was 2.9 percent.
The increase in real GDP in the second quarter primarily reflected positive contributions from personal consumption expenditures (PCE) for services, exports, nonresidential structures, state and local government spending, and private inventory investment that were partly offset by negative contributions from residential fixed investment and federal government spending. Imports, which are a subtraction in the calculation of GDP, increased.
The deceleration in real GDP growth in the second quarter primarily reflected downturns in PCE for durable goods, in equipment and software, and in federal government spending, decelerations in PCE for nondurable goods and in exports, and a larger decrease in residential fixed investment that were partly offset by a deceleration in imports, an acceleration in PCE for services, and an upturn in private inventory investment.
The price index for gross domestic purchases, which measures prices paid by U.S. residents, increased 4.0 percent in the second quarter, the same as in the preliminary estimate; this index increased 2.7 percent in the first quarter.
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
