Secretary Snow's Statement on Third Quarter GDP

"We are encouraged by the ongoing strong performance of the American economy, with a non-inflationary growth rate that is above the average for the past ten years. GDP continues to grow above the average of the 1970s, 80s and 90s, while the unemployment rate remains below the average for those decades.

Our economy grows when it is given the right stimulus – in this case, tax relief and good monetary policy. That stimulus, combined with the strength of our small-business sector and outstanding workforce, has led to a growing economy that is producing jobs in all sectors across the board.

There is still more that can be done to encourage growth and create jobs, and we must continue to implement President Bush's pro-growth policy agenda to achieve those goals."