Press Release

Gutierrez Statement on Final Third Quarter GDP

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

"Today’s GDP report indicates that America’s economy is continuing on a steady and sustainable path of expansion. President Bush’s pro-growth policies have created a strong, resilient economy that enables American families and workers to spend, save and invest.

"Americans should be optimistic that growth and prosperity will continue into the New Year which means more high paying jobs and investment in U.S. businesses, products and services.

"As 2006 comes to a close, the U.S. economy is poised to have experienced another remarkable year. On top of 20 straight quarters of uninterrupted growth and the creation of more than an estimated seven million new jobs since August 2003, we have also seen an increase in real wages over the past twelve months."