Press Release

Gutierrez Hails Solid GDP Growth for 2006

WASHINGTON—Commerce Secretary Carlos M. Gutierrez today released the following statement on the final fourth quarter real gross domestic product (GDP) report, which showed that the American economy grew at 2.5 percent in the fourth quarter of 2006:

"Today’s GDP report rounded out 2006 as a very solid year with growth above the 15-year average. The number was revised upward to 2.5 percent, with annual growth at 3.3 percent in a year that created 2.3 million jobs. The year 2006 was marked by historically low unemployment, export growth that outpaced import growth for the first time in a decade, and rising wages that put more money in the pockets of American families.

"Last year’s economic growth reminds us that President Bush’s pro-growth policies are the key to keeping our economy competitive. Our nation’s economic leadership is fueled by the engine of pro-growth policies: low taxes, open markets and an environment that encourages entrepreneurship and innovation.

"In order to keep our economy growing strong, one issue that must be addressed is immigration. Comprehensive immigration reform is vital to our economic growth. We’ve stepped up enforcement on the border. Next we must enact comprehensive immigration reform that allows our economy to keep growing, provides a reliable source of labor for businesses, and stems the tide of threatening demographic trends. We need to turn immigration into a competitive advantage for our nation. Democrats and Republicans in Congress must work together to pass a workable and humane comprehensive immigration bill."