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Statement from U.S. Commerce Secretary Penny Pritzker on the Advance Estimate of GDP in the Fourth Quarter of 2014

Friday, January 30, 2015
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Office of Public Affairs, 202-482-4883

The U.S. Commerce Department’s Bureau of Economic Analysis today reported that real gross domestic product increased at an annual rate of 2.6 percent in the fourth quarter of 2014, according to the advance estimate.

“Today’s advance estimate of fourth quarter real GDP was bolstered by consumer spending, which grew at its fastest rate since 2006, and consumer optimism which is driven by real wages beginning to rise and declining gasoline prices,” said U.S. Secretary of Commerce Penny Pritzker. “We must build on this momentum by continuing to invest in areas that will grow our economy and create good American jobs, including infrastructure, trade and workforce training. Through our ‘Open for Business Agenda’, the U.S. Commerce Department is working to expand U.S. exports, increase investment in the United States, strengthen American manufacturing, ensure our workers have the skills to get jobs businesses need to fill, unleash more of our data, and provide businesses and communities with environmental intelligence, all of which help create jobs and keep America more competitive in the global economy.”