Statement on the Second Estimate of GDP for the Fourth Quarter of 2015

 

WASHINGTON, DC – Jay Shambaugh, Member of the Council of Economic Advisers, issued the following statement today on the second estimate of GDP for the fourth quarter of 2015. 

Fourth-quarter economic growth was revised up and domestic demand continued to grow. Overall, the most stable and persistent components of output—consumption and fixed investment—rose a solid 2.7 percent over the four quarters of 2015. Weaker foreign growth continued to weigh on domestic output in the fourth quarter, underscoring the importance of policies that open our exports to new markets while promoting strong domestic demand. There is more work to do, and the President is committed to policies that will boost our long-run growth, including high-standards free trade agreements like the Trans-Pacific Partnership and raising the minimum wage.

 

You can view the full statement HERE.

Source: The White House, Office of the Press Secretary