STATEMENT BY SECRETARY EVANS ON THE RELEASE OF 2ND QUARTER GDP

Today’s announcement that the U.S. economy grew by 2.4 percent during the second quarter indicates that our economy is clearly moving in the right direction. Despite this better than expected news, President Bush isn’t satisfied because far too many people remain without jobs as our economy continues to under perform its potential.

The President’s tax cut is beginning to work its way into the economy, and the stock market continues to reflect the confidence that investors have in the short-term economic outlook. Today’s report also shows increased business investment during this past spring and provides some welcome news to Americans looking for work this summer and fall.

Thanks to President Bush’s leadership on the economy and the strength of our economic fundamentals, I am confident that the economic news will continue to get better, the employment picture will grow even brighter and our economy will grow even stronger.