December 20, 2013
Statement From LIA Chief Economist John Rizzo on GDP released by the Commerce Department
By: Dr. John A. Rizzo
"The substantial upward revision in third quarter GDP, the highest growth rate in two years, provides further evidence of economic recovery. This growth was driven by strong spending on consumer health care as well as recreation-- two key components of Long Island's economy. Thus, Long Island's economy has likely been an important component of this good economic news."