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

The Trader Harbor

Business

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
Collapse of fintech firm with 10M users leaves many Americans without access to their money
next post
Palm Beach housekeepers are making $150,000 a year due to massive demand from the wealthy

Related Posts

Tesla shares plunge 15%, steepest drop in five...

March 11, 2025

Ford joins list of companies walking back DEI...

August 30, 2024

Netflix ad-supported tier has 40 million monthly users,...

May 17, 2024

Biden to launch task force to crack down...

March 7, 2024

Willow Bay and Bob Iger to take controlling...

July 18, 2024

There’s been a ‘meaningful shift’ in CEO confidence...

January 16, 2025

Digital health companies pummeled by Wall Street in...

December 27, 2024

Former Ozy Media head sentenced to nearly 10...

December 17, 2024

Wholesale inflation rose 0.6% in February, much more...

March 15, 2024

Dick’s Sporting Goods to buy struggling Foot Locker...

May 16, 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

    • Meta is finally bringing ads to WhatsApp

      June 18, 2025
    • Trump-branded wireless service launches — with a gold phone

      June 18, 2025
    • Kraft Heinz to remove artificial dyes from U.S. products by end of 2027

      June 18, 2025
    • Bearish Divergence Suggests Caution For S&P 500

      June 18, 2025
    • 3 S&P 500 Charts That Point to the Next Big Move

      June 18, 2025
    • Homeland Security Secretary Kristi Noem hospitalized after allergic reaction

      June 18, 2025

    Categories

    • Business (1,256)
    • Politics (3,754)
    • Stocks (1,441)
    • Uncategorized (45)
    • World News (1,249)
    • 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