Carson: Economic Growth Report Encouraging, More Progress Needed to Get Hoosiers Back to Work
October 29, 2009
October 29, 2009
WASHINGTON, D.C. – Today, Congressman André Carson released the following statement in response to reports that, after four quarters of decline, the United States gross domestic product (GDP) grew at an annual rate of 3.5 percent in the third quarter of 2009.
The upswing in GDP marks tremendous progress compared with six months ago, when the output of the economy shrank at 6.4 percent. The turnaround in GDP is the largest improvement in the United States in the last 29 years.
"Today's GDP report is one of the first official signs we've seen that our economy is pulling out of its lengthy freefall, officially marking progress toward getting our economy back on track. Thanks to the resilience of the American people and investment by the private sector, we're seeing our economy slowly move from rescue to recovery. And certainly the American Recovery and Reinvestment Act is having a significant impact, with some economists saying it has bolstered economic growth by up to four percentage points.
"While all this is welcome news, we have a long road ahead. With local unemployment hovering nearly 9 percent, we clearly have a lot of work before us to achieve long-term economic growth and stability. In Indianapolis, as in communities across our country, many working men and women are still struggling to find steady employment. While economic indicators show a more promising future, my focus will continue to be on getting struggling Hoosiers back to work and on a path to stable, successful careers in the growing sectors of our economy."
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