Press Release

Gutierrez Statement on First Quarter GDP

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 5.3 percent in the first quarter of 2006, revised up from 4.8 percent:

“The American economy hit the ground running in 2006. Today’s upward revision in real GDP growth demonstrates that America’s economy was even stronger and healthier in the first quarter of this year than was first thought. Economic growth in the first quarter of 2006 was the fastest in two and a half years.

“We have established a solid economic foundation in America, which will allow us to build even more jobs and opportunities in the future with the right policies. President Bush has helped American families, workers, and businesses keep more of their own hard-earned money to spend, save, and invest as they see fit. As a result, American consumers and businesses alike are spending and investing wisely, and all Americans should be proud that they are driving a robust economy.”