POLITICS
10/26/2012 11:16 am ET

Mitt Romney Calls Third Quarter GDP Report 'Discouraging'

WASHINGTON — Republican presidential candidate Mitt Romney says a new report on the nation's economic growth is "discouraging."

The Commerce Department reported Friday that the U.S. economy expanded at a slightly faster 2 percent annual rate from July through September. But Romney suggested that pickup wasn't sufficient to create enough jobs and improve take-home pay. He argued he would do better.

The report comes as the GOP nominee prepared to deliver an economic speech in the swing state of Iowa.

Romney is focusing on the public's economic concerns heading into the final days of the campaign as polls suggest Americans say they trust him more than President Barack Obama to handle the issue.

Here is Romney's full statement:

Today, we received the latest round of discouraging economic news: Last quarter, our economy grew at only two percent, less than half the 4.3% rate the White House projected after passing the stimulus bill. Slow economic growth means slow job growth and declining take-home pay. This is what four years of President Obama's policies have produced. Americans are ready for change -- for growth, for jobs, for higher take-home pay. Paul Ryan and I will deliver it.

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