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Statement by Secretary Gutierrez on Third Quarter GDP

Washington (Nov. 25)—U.S. Commerce Secretary Carlos M. Gutierrez released the following statement on the preliminary estimate of real gross domestic product (GDP), which showed that the U.S. economy decreased at an annual rate of 0.5 percent in the third quarter of 2008: “Today’s GDP report reaffirms the serious challenges in our economy. We are in the midst of global financial turmoil. Americans are worried about their job security, their home values, their savings and retirement accounts, and their ability to get loans to pay for college education or cars.” (More)
Last Updated:
November 25, 2008
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