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Statement from Commerce Secretary Gary Locke on the Advance Estimate of Real GDP in the First Quarter of 2010

Submitted on April 30, 2010 - 9:49am
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FOR IMMEDIATE RELEASE

Friday, April 30, 2010

CONTACT OFFICE OF PUBLIC AFFAIRS

202-482-4883

Statement from Commerce Secretary Gary Locke on the Advance Estimate of Real GDP in the First Quarter of 2010

Release

The U.S. Commerce Department’s Bureau of Economic Analysis today released the first estimate of gross domestic product (GDP) for the first quarter of 2010. Real GDP grew 3.2 percent at an annual rate in the first quarter, consistent with private-sector expectations.

“With a third-straight quarter of growth, it’s clear America’s economy is turning around,” U.S. Commerce Secretary Gary Locke said. “But Americans remain rightly focused on their personal financial situations and jobs. Wall Street reform is an essential part of securing the future for our families and businesses. The president is committed to enacting changes that hold Wall Street accountable and provide strong consumer protections. In the aftermath of an economic crisis that put more than eight million Americans out of work, and wiped out family savings and assets, the American people deserve and expect nothing less.”