The US is approaching a presidential election in November 2024.
The outcome of the election will shape the country’s future fiscal, monetary and trade policies, which will in turn influence the growth trajectory of the world’s largest economy, while having spillover effects globally.
Euromonitor International constantly evaluates economic risks and simulates potential economic shocks, helping businesses to see beyond uncertainties and prepare contingency plans.
Growth momentum falters in the US and stagnates globally in the baseline outlook
While the upcoming election adds uncertainty, regardless of the election results, the US economy is expected to see lower growth in 2025, as both consumer spending and the labour market are slowing down. Although the Federal Reserve (Fed) has started to cut interest rates in September 2024, the still-high interest rates will weigh on economic activity in the short and medium term.
The US economy is predicted to expand by 1.7% in real terms in 2025, down from estimated 2.3% growth in 2024
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