June 5, 2012

GOV. MALLOY: CONNECTICUT ECONOMY OUTPACING THE NATIONAL AVERAGE

(HARTFORD, CT) - Governor Dannel P. Malloy today released the following statement in reaction to a U.S. Bureau of Economic Analysis report on 2011 economic growth rates in the states, which indicated that Connecticut's economy grew faster than most states and outpaced the national average. The report stated that Connecticut had the ninth fastest economic growth rate in the country and the second fastest on the East Coast:

"Two things are clear: this is good news, but we have a lot more work to do.

"The announcement today by the U.S. Bureau of Economic Analysis is yet another sign that our state's economy is moving in the right direction. With unemployment at a three and a half year low and thousands of private sector jobs created, we are absolutely laying the foundation for future growth. As we continue to implement economic development programs both large and small, I believe we'll see growth that outpaces most of our neighbors, as today's report clearly indicates.

"That said, we're still facing many challenges. We need to continue to be vigilant about the state's finances, and we're of course watching what's going on overseas. We're pleased every time we receive good news, yet we're constantly aware of how far we have to go before any of us can feel satisfied about the economy."

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For Immediate Release: June 5, 2012

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