American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

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

by admin May 25, 2024
May 25, 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

Friday’s jobs report: likely outcome and why it...

December 6, 2024

Asian stock close mixed: Nikkei jumps 0.5%, CSI...

April 30, 2025

HSBC share price forecast ahead of earnings: buy...

February 14, 2025

Deliveroo shares soar on takeover bid, but analysts...

April 28, 2025

Elon Musk says ‘I don’t follow BYD’ —...

May 21, 2025

Shareholders push casinos to reassess indoor smoking

May 11, 2024

US stocks open in the green: Dow jumps...

May 10, 2025

Opendoor stock price is tanking — but this...

May 15, 2025

Best crypto to buy before May 31: Bitcoin...

May 29, 2025

Delta (DAL), AMD, Walgreens (WBA), or Constellation Energy...

January 11, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


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

    Latest News

    • Interview: Strategic location gives Brazil Potash cost advantage in domestic fertiliser market, says CEO Matt Simpson

      June 1, 2025
    • Canada’s Q1 GDP expands by 2.2%, driven by exports spike ahead of potential US tariffs

      June 1, 2025
    • President Trump to host farewell for Elon Musk as DOGE leader steps away

      June 1, 2025
    • UK’s digital banks face divergent fortunes: Starling stumbles, Monzo and Revolut soars

      June 1, 2025
    • Trump wants Apple to shift iPhone production from India to the US: here’s what it means

      May 18, 2025

    Categories

    • Business (3,022)
    • Investing (2,459)
    • Latest News (1,994)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.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 americaninvesthub.com | All Rights Reserved