Press Releases

Chairman Chabot Statement on Strong GDP Indicating Continued Economic Growth

f t # e
Washington, October 26, 2018 | comments

WASHINGTON – House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement after the gross domestic product (GDP) showed an annual growth rate of 3.5 percent in Q3:

“Today’s report is a clear indicator that America’s small business owners and their employees are experiencing continued growth with consumer spending on the rise. This increase in consumer spending has a direct and positive impact on our nation’s 30 million small businesses. There’s no question that through macroeconomic data trends demonstrating positive marks as a whole, our booming economy bodes well for American innovators, consumers, and workers. I’m pleased to see the job market continue to be strengthened as the direct impact of our pro-growth policies are in full effect.”

GDP report highlights:

  • Over the past four quarters, GDP has grown 3 percent.
  • More than two-thirds of the United States economic activity is consumer spending, and it grew 4 percent this quarter.
  • Real disposable income (RDI) has grown at an annual rate of 2.9 percent over the past two years.
f t # e