Quick Takes | Economic Growth

Recovery Act crucial to GDP growth this quarter

In the 6 months before investments made under the American Recovery and Reinvestment Act (ARRA) started to kick in, the economy was contracting at a 5.9% rate. In the 6 months since, the economy has grown at a 1.4% rate, new gross domestic product figures released on October 29 show. While it’s far too early to declare “mission accomplished,” it is crystal clear that the Recovery Act was crucial in pulling the economy out of its tailspin and putting it on the path to growth. -Josh Bivens

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