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Statement from Commerce Secretary Gary Locke on the Advance Estimate of Gross Domestic Product in the Fourth Quarter 2009

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FOR IMMEDIATE RELEASE

Friday, January 29, 2010

CONTACT OFFICE OF PUBLIC AFFAIRS

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Statement from Commerce Secretary Gary Locke on the Advance Estimate of Gross Domestic Product in the Fourth Quarter 2009

The U.S. Commerce Department’s Bureau of Economic Analysis today released the advance estimate of gross domestic product (GDP) for the fourth quarter of 2009. Real GDP rose 5.7 percent at an annual rate, the second consecutive advance and the strongest increase since the third quarter of 2003.

"Today's strong GDP showing represents important economic progress that must now be translated into new jobs," Commerce Secretary Gary Locke said. "Further Recovery Act spending, measures like the $5,000 small business tax credit President Obama announced today and growing confidence among U.S. businesses will help put Americans back to work.”