Press Release

Gutierrez Hails GDP Growth and Humming Economy

WASHINGTON—Commerce Secretary Carlos M. Gutierrez today released the following statement on the fourth quarter GDP report which showed that the American economy grew at 3.5 percent:

“Today’s GDP report shows the U.S. economy is humming. With 3.5 percent growth, the United States ended 2006 on a high note and the economy is poised to continue growing in 2007.

Twenty-one straight quarters of uninterrupted growth, 40 months of payroll increases, and more than seven million new jobs since August 2003 have helped make the United States the fastest growing major industrialized nation in the world. Today’s high growth, low inflation, rising wages and record-low unemployment are helping America’s families.

“Last year’s record of $1.5 trillion in exports is helping to fuel GDP growth. Opening new markets for U.S. goods and services is a key part of the President’s plan because trade contributes to economic growth and helps create more high paying jobs. When we open overseas markets, American companies, consumers and workers benefit.

“The President’s sound pro-growth policies have put America on the path to prosperity and have helped create an environment that enables U.S. businesses to be the most competitive and innovative in the world.”