Will America’s economy swing the election?
It is not entering recession, but it is slowing down. That is bad news for Kamala Harris
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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 Aug 2, 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 per cent in July, its highest since 2021. On Aug 5, stock markets slumped worldwide, before recovering a little lost ground the next day.
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