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107th Congress, 1st Session - - - - - - - - - - - House Document 107-144
LOW-GROWTH REPORT
__________
COMMUNICATION
from
THE DIRECTOR,
THE CONGRESSIONAL BUDGET OFFICE
TRANSMITTING
NOTIFICATION ON THE GROWTH OF REAL GROSS NATIONAL PRODUCT DURING THE
THIRD QUARTER OF 2001, PURSUANT TO 2 U.S.C. 904(j)
<GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT>
November 7, 2001.--Referred jointly to the Committees on the Budget and
Rules, and ordered to be printed
__________
U.S. GOVERNMENT PRINTING OFFICE
99-011 WASHINGTON : 2001
U.S. Congress,
Congressional Budget Office,
Washington, DC, October 31, 2001.
Hon. J. Dennis Hastert,
Speaker, U.S. House of Representatives, Washington, DC.
Dear Mr. Speaker: Under section 254(j) of the Balanced
Budget and Emergency Deficit Control Act of 1985 (2 U.S.C.
904(j)), the Congressional Budget Office must notify the
Congress in the event of an economic slowdown. The section
reads in part:
(j) Low-growth report: At any time, CBO shall notify
the Congress if--
(2) the most recent of the Department of
Commerce's advance preliminary or final report
of actual real economic growth indicate that
the rate of real economic growth for each of
the most recently reported quarter and the
immediate preceding quarter is less than one
percent.
This letter serves to notify the Congress that on October
31, 2001, the Department of Commerce's advance report on the
growth of real gross national product during the third calendar
quarter of 2001 indicated that growth was less than 1.0 percent
during that quarter and the preceding quarter.
Sincerely,
Dan L. Crippen.
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