[House Document 107-178]
[From the U.S. Government Publishing Office]



                                     

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)




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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