EVANS: PRESIDENT BUSH’S JOBS AGENDA BOOSTS ECONOMY IN 2ND QUARTER, PROVIDES A "WIN-WIN" FOR
AMERICAN FAMILIES AND BUSINESSES

WASHINGTON, D.C. – Commerce Secretary Donald L. Evans applauded today’s economic data that showed more American businesses exporting and building their inventories in order to respond to strong consumer demand.

“President Bush’s economic agenda is a clear win-win for American families and businesses defeating our critics’ no-win pessimism that would stifle growth with higher taxes, burdensome regulations and economic isolationism. The administration’s economic agenda has given businesses the confidence to hire new workers, expand their operations and sell their products to new markets. The President’s policies have successfully led us out of the recession we inherited and has given families and workers the hope to succeed.”

NOTE: Second Quarter GDP Revised Up 3.3%
The Commerce Department reported this morning that second-quarter GDP was upwardly revised to 3.3% from a previously reported 2.8%. The upward revision was the result of stronger than initially reported residential investment, business equipment investment, higher inventory investment, and a narrower trade gap. Over the last four quarters, GDP has risen at a robust 4.8% rate - one of the strongest yearly readings in 20 years.