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H.Doc.107-179 PERIODIC REPORT ON THE ...
107th Congress, 2d Session - - - - - - - - - - - - House Document 107-178 LOW-GROWTH REPORT __________ COMMUNICATION from THE DIRECTOR, THE CONGRESSIONAL BUDGET OFFICE transmitting NOTIFICATION ON THE GROWTH OF REAL GROSS NATIONAL PRODUCT DURING THE FOURTH CALENDAR QUARTER OF 2001, PURSUANT TO 2 U.S.C. 904(j) <GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT> February 4, 2002.--Referred jointly to the Committees on the Budget and Rules, and ordered to be printed U.S. Congress, Congressional Budget Office, Washington, DC, January 30, 2002. Hon. J. Dennis Hastert, Speaker, House of Representatives, The Capitol, 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 indicates 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 January 30, 2002, the Department of Commerce's advance report on the growth of real gross national product during the fourth calendar quarter of 2001 indicated that growth was less than 1.0 percent during that quarter and the preceding quarter. Sincerely, Dan L. Crippen, Director. <all>
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