Christina Romer, Chair of the Council of Economic Advisors, posted a statement today on the White House blog in response to the advance estimate of GDP for the Fourth Quarter of 2009. Read the full text after the jump. Today’s GDP report is the most positive news to date on the economy. The data show that the total output of the U.S. economy increased strongly in the fourth quarter of 2009. Real GDP (that is, GDP adjusted for inflation) increased at an annual rate of 5.7 percent. The change from the first quarter of 2009, when GDP fell at an annual rate of 6.4 percent, is truly extraordinary; indeed, the three-quarter swing in growth rates was the largest since 1981.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=131180