U.S. Treasury Secretary Snow: First quarter 2004 GDP indicates sustained strength of economic recovery

In a statement released April 29, U.S. Treasury Secretary John Snow said the 2004 first quarter gross domestic product (GDP) report "illustrates the sustained strength of the economic recovery."

Snow continued, "In the first quarter of this year, the economy grew 4.2 percent, combining with the last half of 2003 for the strongest three-quarter growth in almost 20 years. The president's tax relief measures have boosted economic growth and are leading to job creation. In the past seven months, American employers have added more than three-quarters of a million workers to their payrolls. Today's numbers suggest that America's economy is poised for long-term growth."