... given the feeble recovery track record
this is constructed as a participle phrase, and acts as an adverbial within the complete sentence. given is a past/passive participle: it means that we have been given this information to take into account.
If you were to replace it by the present/active participle giving, it would mean that we are giving the information to somebody else... who else, though?
You could replace it by the active participle for a different verb, for example considering, to indicate that we are considering this information:
...considering the feeble recovery track record
given appears in some dictionaries as a preposition (which can also be used to form an adverbial phrase), but this doesn't work in all circumstances:
he is doing pretty well, given that he is nearly 70.
a that-clause can follow a participle, but cannot follow a preposition.
Note that the latin word for something that is given is datum... well, that's the singular, but the plural is data, which we all associate with information.