Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

Most Americans falsely think the U.S. is in recession, poll shows

by May 24, 2024
May 24, 2024
Most Americans falsely think the U.S. is in recession, poll shows

More than half of Americans think that the United States is in an economic recession, although gross domestic product has been increasing for the past several years.

According to a new Guardian/Harris poll, 56% of respondents said they believe the U.S. is in a recession and 58% say that President Joe Biden is responsible for what they see as an economic downturn.

A recession is an extended period of economic decline, usually designated when GDP has declined for two or more consecutive fiscal quarters.

Under those terms, the U.S. is definitively not in a recession.

GDP grew by 1.6% in the first quarter of 2024. Granted, that is a decelerated rate from the 3.3% growth of the fourth quarter of 2023, but it is not recessionary. U.S. GDP growth has been outpacing that of other developed nations.

“America has the best economy in the world,” Biden told NBC’s “TODAY” in April.

The Guardian/Harris poll is yet another example of an ongoing gap between economic data and economic feelings that has nagged the Biden administration in recent months.

Despite some positive signals that the economy is recovering from the pandemic chaos that disrupted supply chains and sent inflation skyrocketing, consumer attitudes have lagged, often driven by the high costs of daily living caused by stubbornly high inflation.

The Guardian/Harris poll comes less than six months away from the November election where Biden will face former President Donald Trump. The Biden campaign is fighting to sell voters on the president’s economic record and shift the mood to recognize the economic gains the country has made since the pandemic.

“We know our work is not done,” White House Press Secretary Karine Jean-Pierre said at a January briefing, nodding to the chasm between how the American economy is doing by the top-line numbers and how Americans are feeling about it.

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Target, McDonald’s and others are offering value as they lose ground with bargain hunters
next post
Dow falls 600 points in worst day of 2024 as Nvidia’s blockbuster earnings fail to lift broader market

Related Posts

Inflation ticked up to 3.4% in December thanks...

January 12, 2024

Doritos severs ties with transgender influencer in Spain...

March 8, 2024

Spotify is increasing U.S. prices for many of...

June 4, 2024

The 30-year mortgage rate hits 7.48%, the highest...

August 22, 2023

ESPN is launching a sportsbook for online gambling

August 9, 2023

Clorox warns cyberattack and product shortages will drag...

October 11, 2023

Jeff Bezos discloses plan to sell up to...

May 3, 2025

Walmart is laying off and relocating hundreds of...

May 16, 2024

UPS shares tank 15% after weak guidance, plan...

February 1, 2025

Six months after ‘zero Covid,’ U.S. firms in...

June 12, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • The NASDAQ 100, On The Brink Of A Breakout, Needs Help From This Group

    • Tech 5: OpenAI/Microsoft Talks Get Tense, SoftBank Floats Arizona Robotics Hub

    • Editor’s Picks: Silver Price Hits 13 Year High, Gold Takes a Breather

    • Joe Rabil’s Undercut & Rally Pattern: From DROP to POP

    • RRG Alert Tech Vaults to ‘Leading’—Is XLK Signaling a New Rally?

    • Coelacanth Energy

    Categories

    • Business (1,259)
    • Investing (2,585)
    • Politics (3,699)
    • Stocks (1,670)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved