Second Quarter GDP Figures

Secretary of Commerce Ron Brown and Chair of the Council of Economic Advisors Laura Tyson briefed the media on the GDP numbers released today. Tyson noted… read more

Secretary of Commerce Ron Brown and Chair of the Council of Economic Advisors Laura Tyson briefed the media on the GDP numbers released today. Tyson noted that, in the second quarter, real GDP increased at an annual rate of 3.7 percent. The economy created over 1 million new jobs. Over the past six quarters the economy has averaged an annual growth rate of 3.2 percent, more than twice the average growth rate of the previous 4 years. Tyson reported that the deficit continues to decline faster than expected. Consumer confidence remains high. The industrial sector is enjoying steady growth in orders, and inflation remains subdued. “So far, everything we’ve seen in 1994 confirms our forecast of a sustainable investment-led expansion with low inflation,” Tyson said. close

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Second Quarter GDP Figures

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Program ID:
59112-1
Category:
News Conference
Format:
News Conference
Location:
Briefing Room, White House, Washington, District of Columbia, United States
First Aired:
Jul 29, 1994 | 4:52pm EDT | C-SPAN 2
Last Aired:
Jul 30, 1994 | 4:26am EDT | C-SPAN 1

Airing Details

  • Jul 29, 1994 | 4:52pm EDT | C-SPAN 2
  • Jul 30, 1994 | 4:26am EDT | C-SPAN 1
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Second Quarter GDP Figures

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