Today's Economic Data Shows That the Economy Grew 5.2 Percent in the Second Quarter of 2000. This brings growth for the last year to 6.0 percent – the strongest growth in over 15 years. Under President Clinton and Vice President Al Gore, the economy has grown 4.0 percent annually, the strongest growth of any Administration since Johnson. At the same time, America has created more than 22 million new jobs since President Clinton came into office and enjoys nearly the lowest unemployment rate in over 30 years.

STRONG GROWTH WITH VIRTUALLY NONEXISTENT INFLATION

• 5.2 Percent GDP Growth In the Second Quarter. GDP growth in the second quarter was 5.2 percent. This brings the growth rate for the last four quarters to 6.0 percent – the strongest since 1983 when the economy was emerging from a deep recession.

• 17.2 Percent Investment Growth in the Last Year – Continuing the Longest and Strongest Investment Growth On Record. Equipment and software investment grew 17.2 percent in the last year. This is the seventh consecutive year of double-digit growth for the first time on record. Since President Clinton has taken office, equipment and software investment has been faster – 13.3 percent per year – than any President on record (comparable investment data is available from 1959).

• Inflation Over the Last Year Remains Low. In the last year, the GDP price index rose 2.1 percent at an annual rate.

PRESIDENT CLINTON'S ECONOMIC GROWTH STRATEGY IS WORKING

1. Maintaining Fiscal Discipline. In 1992, the budget deficit was $290 billion – the largest dollar deficit on record. In 2000, the projected budget surplus is $211 billion – the largest dollar surplus ever. America is on track to pay down over $300 billion of debt over three years.

2. Investing in the American People. For seven years, the President has worked to make critical investments in our people that are vital to a strong economy.

3. Opening Markets Abroad and Leading The Global Economy. The President has been strongly committed to expanding foreign markets for American goods.

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