Washington, D.C. – Today the Commerce Department
announced that the economy grew for the first time in a year. Gross
Domestic Product (GDP) grew at an annual rate of 3.5 percent in the last three
months, after falling 0.7 percent in the second quarter and 6.5 percent in the
first quarter of 2009. According to the Council of Economic Advisers, the
American Recovery and Reinvestment Act contributed between three and four
percentage points to GDP growth.
Oregon’s Senator Jeff Merkley released the following
statement:
“I’m gratified that after a year of economic decline, the
economy is finally growing again. However, GDP growth is not our measure
of success, the creation of good jobs at good wages is. For millions of
Americans, this recession won’t be over until new businesses can open their
doors and existing businesses can expand and create new jobs. In order to
turn this recession around on Main Street, we need to get people back to work
and restore economic security for our families.”
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