Why these economic indicators could spell trouble for Donald Trump?

Kamala Harris has led almost all opinion polls since Joe Biden sidestepped and endorsed her for the US Presidential Election 2024. If media reports are to be believed, it was largely due to the enthusiasm she has created among the US voters. But economic indicators are now being discussed, Donald Trump has targeted the vice president for rising unemployment and she has declared to ban food price hikes if elected. So, will the economic factors help the presumptive Democratic candidate? Or will the Republican candidate be able to upset her winning equation by taking the rants of "America First" and "Make America Great Again" (MAGA) to a new height?

Economic Factors

Talking to 'MarketWatch', Justin Begley, an economist at Moody’s Analytics, said that economic factors like changes in household incomes, mortgage rates and consumer confidence would play more important roles than political factors. The outlet has also reported that household income, adjusted for inflation may favor Kamala Harris. It has been found that inflation-adjusted incomes have gone up in the states of Georgia, North Carolina, Nevada, Michigan, Pennsylvania and Wisconsin. Arizona is the only state to have witnessed a decline in real incomes last quarter.

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Low unemployment rates in swing states

Similarly, unemployment is the other economic factor below the national average of 4.3% in each swing state. Nevada is an exception with a 5.2% jobless rate. But on the other hand, the unemployment rate has increased across the country and it may harm the Democrat nominee.

Low gasoline prices, and mortgage rates to help Harris

Gasoline price is the other important factor. It has fallen across the US over the past year. It fell to $3.44 per gallon on August 16 from $3.86 per gallon last August. Similarly, mortgage rates have also fallen after a sharp surge instigated by the Federal Reserve raising interest rates to quell inflation.

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FAQs

How will the inflation rate help Kamala Harris in swing states?
It has been found that inflation-adjusted incomes have gone up in the states of Georgia, North Carolina, Nevada, Michigan, Pennsylvania and Wisconsin. Arizona is the only state to have witnessed a decline in real incomes last quarter.

What is the gasoline price in the US now and how will it help Kamala Harris?
Low gasoline prices, and mortgage rates to help Harris
Gasoline price is the other important factor. It has fallen across the US over the past year. It fell to $3.44 per gallon on August 16 from $3.86 per gallon last August. Similarly, mortgage rates have also fallen after a sharp surge instigated by the Federal Reserve raising interest rates to quell inflation.