U.S. real gross domestic product (GDP) increased at an annual rate of 4.8 percent in the first quarter of 2006, according to advance estimates released by the U.S. Bureau of Economic Analysis. In the fourth quarter, real GDP increased 1.7 percent.
The acceleration in real GDP growth in the first quarter primarily reflected an acceleration in personal consumption expenditures (PCE) for durable goods, an upturn in federal government spending, and accelerations in equipment and software and in exports that were partly offset by a downturn in private inventory investment. Imports, which are a subtraction in the calculation of GDP, increased.
Final sales of computers contributed 0.11 percentage point to the first-quarter growth in real GDP after contributing 0.33 percentage point to the fourth-quarter growth.
to Daily News