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Final Estimates for Q3 2006

Jan '07
Economic Analysis Department released Final Estimates for the Third Quarter of 2006. Final Estimates for the Third Quarter of 2006 ECONOMIC growth slowed in the third quarter of 2006, according to the “final” estimates of the national income and product accounts (NIPAs). Real gross domestic product (GDP) increased 2.0 percent, revised down 0.2 percentage point from the “preliminary” estimate. In the second quarter, GDP increased 2.6 percent.

The slowdown reflected acceleration in imports (a subtraction in the GDP calculation), a larger decrease in residential investment, and decelerations in consumer spending for services, in inventory investment, and in state and local government spending. The slowdown was moderated by upturns in equipment and software investment, consumer spending for durable goods, and Federal Government spending.

-Prices of goods and services purchased by U.S. residents increased 2.2 percent, 0.1 percentage point more than the “preliminary” estimate, following a 4.0-percent increase. Energy prices decelerated sharply, while food prices accelerated.
-Real disposable personal income (DPI) increased 4.1 percent, 0.4 percentage point more than the “preliminary” estimate; it decreased 1.5 percent in the second quarter.
-Corporate profits increased $61.5 billion (3.9 percent at a quarterly rate) after increasing $22.7 billion (1.4 percent) in the second quarter. See the box “Corporate Profits and the Economy”.
-The personal saving rate, personal saving as a percentage of current-dollar DPI, was –1.2 percent; in the second quarter, it was –1.4 percent.

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