SBA Administrator McMahon’s Statement on GDP Report for 2nd Quarter of 2018

Release Date: 
Friday, July 27, 2018
Release Number: 
18-48
Contact: 
erin.mccracken@sba.gov, (202) 205-7023

Washington, D.C. – Today, U.S. Small Business Administration Administrator Linda E. McMahon issued the following statement after the Bureau of Economic Analysis reported an already-strong U.S. economy is expanding at an accelerating rate. According to the report, GDP grew at a booming 4.1 percent in the second quarter of 2018:

“Today’s report aligns with what I’ve been hearing from small businesses for months: the President’s pro-growth policies of tax cuts and regulatory relief are working.  For the first time in my lifetime, there are more available jobs than applicants. In the coming months, this Administration will continue its focus on creating and promoting workforce development strategies so that American workers have the requisite jobs skills to meet the emerging demand for labor in this strong new economy.”

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About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.