WASHINGTON—Commerce Secretary Carlos M. Gutierrez today released the following statement on the GDP report which showed that the American economy grew at a 4.8 percent pace in the first quarter of 2006: "The American economy jumped out of the gates in 2006, with the fastest pace of growth in two and a half years. The economy rebounded from last year's hurricanes, and we have seen a solid and sustainable level of growth over the past year. This is great news, and the American people should feel happy about their accomplishment. American consumers and businesses alike are spending, driving the growth that will create more jobs and keep the economy moving forward.
"President Bush's economic agenda has put us on the strong path we enjoy today. Looking ahead, the President's plans on energy, competitiveness, taxes, trade and health care will maintain this economic growth."
Source: U.S. Department of Commerce
