The U.S. Economic Growth Rate in the Fourth Quarter of 2005 was 1.6%

A report released by the U.S. Department of Commerce on the 28th stated that the U.S. economic growth rate in the fourth quarter of last year was 1.6% on an annual basis, higher than the 1.1% announced a month ago, but it was still the slowest quarter in the past three years.

The latest U.S. gross domestic product report showed that personal consumption expenditures, the main driver of U.S. economic growth, increased by 1.2% in the final quarter of last year, slightly higher than the original estimate of 1.1%, but significantly lower than the 4.1% in the previous quarter. , the lowest growth quarter in many years. Analysts believe that the southern United States was severely hit by hurricane disasters and soaring oil prices in the second half of last year as the main reasons for the significant slowdown in personal consumption expenditure growth.

U.S. corporate non-housing fixed asset investment rose 5.4% in the quarter, down from 8.5% in the previous quarter. Among them, investment in equipment and software increased by only 6.2%, which was significantly lower than the 10.6% in the third quarter of last year. Structural investment for factory construction and other purposes increased by 3.3%, slightly higher than the 2.2% in the previous quarter.

U.S. exports grew by 5.7% in the fourth quarter of last year, significantly better than the 2.5% growth rate in the previous quarter. However, imports also increased significantly by 12.8%, much higher than the 2.4% in the previous quarter.

Many analysts believe that the U.S. economy has shaken off the temporary downturn at the end of last year and is showing signs of acceleration, with growth expected to reach around 4.5% this quarter. The economic growth rate for the whole year this year will be about 3.5%, roughly the same as last year.