Press Release

Gutierrez Hails Economy’s Impressive 5.6 Percent First Quarter Growth

WASHINGTON—Commerce Secretary Carlos M. Gutierrez today released the following statement on the real gross domestic product (GDP) report which showed that the American economy increased at an annual rate of 5.6 percent in the first quarter of 2006, an upward revision of 0.3 percent:

"Today's 5.6 percent first quarter growth confirms what I've been seeing and hearing throughout the country; President Bush's pro-growth agenda is keeping our economy on the right track. More Americans are working and more businesses are hiring--creating 5.3 million new jobs since August 2003. Productivity is growing, consumers and businesses are spending and workers are able to keep more of the money they earn.

"President Bush's agenda will continue to promote economic growth. The President is working with Congress to make health care more affordable and accessible; increase America's energy independence; open additional markets to American products; reform the immigration system and ensure secure and orderly borders; and reform our legal system."