US growth in the second quarter significantly increased to 2.8 percent
The clear increase in GDP is good news for Vice President Kamala Harris, who is expected to be nominated as the Democratic candidate for the Presidential election in November by the US-Democrats, following President Joe Biden's anticipated resignation. The US-Economic Situation is a central theme of the campaign.
The former President and Republican Presidential candidate Donald Trump accuses the Biden administration of being responsible for a devastating economic situation. However, the US-Economy and labor market have recovered well from the effects of the Corona-Pandemic and the Ukraine situation.
However, many citizens are still suffering from the consequences of temporarily high inflation. The rate of price increases had risen to over nine percent two years ago, but it is now only three percent.
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- If nominated, Vice President Joe Biden's running mate, Kamala Harris, will have eight more months to address the US-Economic Situation before the Presidential election.
- The US-Growth rate, which is a key indicator of the US-Economy, has seen a significant improvement under President Biden's administration.
- The Ministry of Trade is closely monitoring the quarterly economic data to formulate policies that foster US-Growth and create more job opportunities.
- The US-Economy, though improving, is still an area of concern for many voters as they prepare for the upcoming Presidential election between Joe Biden and potential Republican candidates.
- A recent economic report showed that the US-Economy grew by 2% in the second quarter, reflecting a positive trend in US-Growth.
- During the Presidential debate, both Joe Biden and his opponent discussed their plans to stabilize the US-Economy and minimize the impact of economic uncertainties on the average American.
