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mpc: 22 The Committee's central projection, based on its collective judgement and the assumption that official interest rates followed the path implied by the market yield curve, was for output to continue rising at a rate close to its long-term average. Steady growth in consumer spending, a modest recovery in investment and a small boost from net trade were forecast to offset slower growth in public expenditure. Reflecting these developments, the four-quarter growth rate of GDP was expected to continue to edge up through 2006 as the period of weak growth in 2005 dropped out of the calculation. The profile for GDP growth was slightly weaker than in the February Inflation Report.