In 2024, the US economy may face a downturn in business and manufacturing activity – as reported by Bloomberg
The publication cited the results of a survey of industry market participants. According to him, 65 percent of respondents reported that the US economy is likely to enter into a recession. If the country’s economy faces a prolonged decline in production, this could affect the prospects for the re-election of the incumbent US President Joe Biden in the next presidential election, the article noted.
“The typical modern recession lasts 10 months, so an early, short and shallow recession would give Biden time to regain his economic footing. A late, long and deep recession could put Biden among the list of one-term presidents whose time in the White House was cut short by an untimely slump,” the publication reads.