Contact: Rob Ostrander or Shana Stribling 202.224.5721
Friday, April 28, 2006

WASHINGTON – U.S. Senator Kit Bond today hailed news from the economic front showing America’s economy continues to grow at a healthy pace. The Commerce Department today reported that first quarter growth of the nation’s GDP came in at a stunning 4.8 percent.

“Today’s report confirms that the nation’s economy is surging forward and that’s good news for American families, small businesses and employers,” said Bond.

“The U.S economy made great gains in the first three months of this year, with the strongest growth in two and a half years. All these numbers underscore a healthy pace of growth and show our economy is strong and resilient.”

Bond noted that consumer spending was up 5.5 percent, the largest increase since 2003, and investments by businesses in equipment grew at the rate of 16 percent, the largest gain since 2000.

“With consumer confidence at record highs and businesses investing in themselves, jobs are being created and the unemployment dropped to its lowest point in four and a half years,” said Bond. “Today, we are seeing the result of pro-growth policies enacted by Congress.

“Since Congress passed common-sense tax reform, Missouri families, small business owners, farmers and entrepreneurs have been able to keep more of their own money to save and invest.”

Bond said the growth of the national economy wasn’t lost on Missouri. Over the last year, Missouri’s economy was among the fastest-growing in the country, Bond said, pointing out that Missouri added 33,900 new jobs and the state’s unemployment rate dropped a full percent from 5.5 percent in March 2005 to 4.5 percent in March 2006.

“To keep this economy growing, we need to work to ease the pain at the pump for consumers and prevent any attempt in Congress to raise taxes,” said Bond.