GDP and Unemployment Rate

On March 30, the government announced that GDP increased at an annual rate of 3.8 percent for the fourth quarter of 2004; this compared to an annual rate of four percent for the third quarter (Mannering, 2005).

Comerica forecasts GDP growth of between 1.5 and two percent for 2006, depending on actions that are taken this year with regard to tax cuts and other policies. If the tax cuts enacted by the Bush administration are not made permanent, Comerica forecasts dire effects on the economy, including the lackluster GDP performance ("Economic Review," 2004).

The Federal Reserve Bank of Philadelphia conducted a survey of 36 economists, and emerged with a forecast GDP growth rate of 3.4 percent for 2006,

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