The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

World News

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

by admin 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
‘It is time to break up Live Nation’: DOJ sues Ticketmaster parent over alleged monopoly

Related Posts

Pfizer CEO says tariff uncertainty is deterring further...

May 1, 2025

Trump could scale back Canada, Mexico tariffs Wednesday,...

March 6, 2025

Aldi to add 800 new U.S. grocery stores...

March 8, 2024

Elon Musk is $70 billion richer since Trump...

November 13, 2024

Armenian organized crime rings charged with stealing $83...

May 23, 2025

ESPN hopes to reach more casual sports fans...

December 6, 2024

FDA declares cucumber-linked Salmonella outbreak over after 155...

August 27, 2024

Here’s why business leaders are spending big on...

December 26, 2024

A year after Silicon Valley Bank failed, another...

March 5, 2024

AMD CEO calls China a ‘large opportunity’ and...

May 8, 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

    • Amazon cracks down on Prime free shipping sharing

      September 4, 2025
    • Crash victims’ families prepare to make what could be their final plea for Boeing’s prosecution

      September 4, 2025
    • Disney to pay $10 million to settle FTC complaint over collection of children’s data on YouTube

      September 4, 2025
    • The Real Drivers of This Market: AI, Semis & Robotics

      September 4, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      September 4, 2025
    • Trump’s political advisers huddle with House GOP over rebranding of the big beautiful bill

      September 4, 2025

    Categories

    • Business (1,376)
    • Politics (4,393)
    • Stocks (1,627)
    • Uncategorized (45)
    • World News (1,369)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, 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 thetraderharbor.com | All Rights Reserved