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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.
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