Fitzpatrick Hails Strong Economic Growth

Fitzpatrick Hails Strong Economic Growth

Washington, Jun 29 - This morning, the Bureau of Economic Analysis released its final gross domestic product reading for the first quarter of 2005. Overall economic growth clocked in at +3.8%, above expectations of +3.5%. The data shows that the U.S. economy has been growing for 14 straight quarters.

The national economic growth trend has also affected Pennsylvania. Since last May, Pennsylvania added 62,100 jobs. Growth has been especially significant in the healthcare, construction and tourism industries. Locally, Bucks County has enjoyed a growth rate of 2.1 percent in May, above the national average of 1.9 percent.

"The economic news coming out today is great for the nation as well as the 8th District. This data shows that confidence in the national economy is strong," Fitzpatrick said. "With this type of positive growth for 14 straight quarters, there is no doubt that this expansion will continue. That means more jobs, more homes and more opportunity for the 8th District."

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