Commerce Secretary: US Economy ‘Pretty Good’ Despite GDP Shrink

Commerce Secretary Penny Pritzker said that despite the contraction in GDP, “things are actually pretty good” on Friday’s “Opening Bell With Maria Bartiromo” on the Fox Business Network.

Pritzker said, “You know, actually, I think things are actually pretty good. The first quarter is something that’s not unexpected given the severity of the winter, given the fact that we had the West Coast ports slowdown which affected inventories, and consumers are still not spending the savings that they’re getting from the gas — the fact that gas prices are lower. So, this is — we’re, I think things are trending pretty good.”

Pritzker added, “The consumer is feeling more and more confident and I think that what we’re seeing, what we saw in the first quarter was temporal as it relates to the weather, as it relates to the West Coast ports, which have been resolved.”

(h/t Real Clear Politics)

Follow Ian Hanchett on Twitter @IanHanchett


Please let us know if you're having issues with commenting.