Will America’s economy swing the election?
It is not entering recession, but it is slowing down. That is bad news for Kamala Harris
AMERICA’S VOTERS have not given credit to the Biden White House for their country’s economic boom. Will they punish Kamala Harris for a bust? After growing at rates that were the envy of the rich world, the American economy now seems to be slowing. Investors are worried that a recession is just around the corner. On August 2nd, following a disappointing survey of manufacturers and a rise in claims for jobless benefits, they took fright at the news that the country’s unemployment rate had risen to 4.3% in July, its highest since 2021. On August 5th stockmarkets slumped worldwide, before recovering a little lost ground the next day.
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This article appeared in the Leaders section of the print edition under the headline “Will the economy swing the election?”
Leaders
August 10th 2024- Will America’s economy swing the election?
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