Rep. Maloney's Statement on 4th Quarter GDP Report

Washington D.C. – Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee released the following statement on the announcement that the real gross domestic product (GDP) increased at a rate of 5.7% in the fourth quarter of 2009:

“Today’s GDP number shows that the recovery which began in the third quarter of 2009 accelerated in the fourth quarter.  The economy has now grown for the past six months, providing fresh evidence that the Recovery Act, which Congress passed in February 2009, is working.   

“After four quarters of the economy contracting, we now have two quarters of growth and continued signs that the economy is on an upward path.   We need to be vigilant that this increase in GDP translates into an immediate increase in jobs.  In Congress, we need to continue to focus on creating good jobs that lift employment levels, boost consumer spending, and strengthen our economy.”  

The Joint Economic Committee, established under the Employment Act of 1946, was created by Congress to review economic conditions and to analyze the effectiveness of economic policy.

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