economic analysis state board of equalization 2004 05 annual report60 report 61 national economy in the was characterized by very strong growth slowly increasing employment high productivity rising interest rates energy prices and residential building activity unemployment rate declined steadily throughout year gross domestic product real broadest measure nation s output goods services increased 4 2 percent up from 7 2003 this gdp fastest since 1999 well above its ten average 3 with exception ally nonagricultural 1 per cent far slower than job historically associated such increases sector investment a major reason for stronger rapid rise spending domes tic fixed which made 16 total 9 is strongest 1998 components had varying
