WASHINGTON—Commerce Secretary Carlos M. Gutierrez today released the following statement on the second quarter GDP report: “The American economy is fundamentally strong and has proven time and again to be remarkably resilient in the most challenging of times. There is no doubt the recent hurricanes in the Gulf Coast states will have a short term effect on our economy. However, Americans are entrepreneurs, investors and some of the best workers in the world. With continued sound economic policies, they will be the key to rebuilding Louisiana, Mississippi, Alabama and Texas and enable our country’s economic potential to be fully realized.” NOTE: Final GDP was in line with expectations and unchanged from last month’s estimate of 3.3 percent. Second quarter growth reflected strong increases in exports, equipment and software investment, housing, and a solid increase in consumer spending. According to the GDP price index, inflation remains contained.
Source: U.S. Department of Commerce
