Biden has received good news amid Trump’s tremendous lead.

Good news for Americans, especially for re-election campaign Joe Biden what a fight this year to defeat donald trump: United States economy grew in the last quarter of 2023 3.3% annual –more than expected— and allayed recession fears by painting an optimistic picture of consumers and businesses in a crucial election year.

Biden’s hope, which indicates everything He will repeat his duel with the Republican veteran on November 5Do these numbers break down Strange Paradox It happens in the country: The United States economy after the pandemic going goodMuch better than the rest of the global powers, but the Americans They still don’t understand it that way And they blame the President for poor performance in that key area.

According to the Bureau of Economic Analysis this Thursday, US GDP increased in the last three months of the year Faster than many experts expectedAt an annual rate of 3.3 percent, which gives Annual rate of 2.5% till 2023. Even if measured from December 2022 to December 2023, that figure gives a 3.1 expansion, a number the White House celebrated.

This is a signal that the government, along with the rate policy of the Federal Reserve, managed to reduce inflation and ensure a “soft landing” There was no major impact on the economy or workers, as unemployment still remained at a low level, at 3.7%.

inflation Fell sharply from peak of 9.1% annually at a 3.4% annual rate last month through June 2022 and there are signs the decline is continuing: Prices rose at a 1.7% annual rate in the last three months of 2023, even as below target Long-term Fed policy of 2 percent.

“It’s hard to imagine how things could look any better for a soft landing,” UBS senior economist Brian Rose told The New York Times. “Looking at last year, we did not consider the combination of growth and inflation.” The range of what is possible for most people.Growth so strong, unemployment so low and inflation falling so fast“Even the optimists were not so optimistic,” he said.

It was vital in the recovery of the economy consumer spending, The labor market remained solid and this data, combined with rising wages, made it possible for many citizens to continue spending their dollars even in times of high inflation, especially on services such as entertainment, travel, and dining.

Consumption contributed most of the economy’s growth in the fourth quarter. Official reports show that increases in public spending at the state, local and federal levels, as well as an increase in exports and an increase in private and residential investment, also underpinned the year-end increase.

The information reaches Biden at a critical moment, cAfter that his rival Trump took the lead in the Republican race and today the surveys show this veteran slightly ahead. In the November presidential election.

The growth figures are a political boost for the President, as every year of his administration the country has seen GDP growth despite some tough quarters. Last year’s 3.3% expansion exceeded GDP growth in every year of President Donald Trump’s tenure, including 2019, when the economy grew 2.95%.

usa Grows over Europe and Great Britain, Which are on the verge of recession, while China, the world’s second largest economy, is slowly recovering at 5.2% with a still uncertain outlook. Overall, economic growth in advanced economies is expected to slow to 1.4% this year, according to the International Monetary Fund.

Biden’s policies helped the economy recover last year, particularly by funding infrastructure and clean energy projects. created new jobs and aroused Private investment of US$640,000 million.

However, the president is having trouble convincing voters that the economy is improving because Americans still feel There is no sense of progress in their pockets, In fact, according to an average of RealClearPolitics surveys, 58% of citizens disapprove of Biden’s handling of the economy, while 37% of citizens approve. Regarding management of inflation, 64.6% are against it, while only 32.3% approve of it.

Rising prices, especially on essential goods like food, housing and utilities, are clouding Americans’ views on the economy, and inflation regularly tops the list of voters’ biggest concerns.

The key to this paradox is the increase in interest rates by the Federal Reserve. the feds picked them up Aggressively since last year in an effort to slow the economy enough to reduce inflation.

Although their efforts are working (prices are up 3.4 percent from a year ago, down from a high of 9.1 percent in June 2022), Many Americans think prices are high (They’re actually higher than before the pandemic) However, salaries have remained consistent.

But, although in the latest reviews the Fed Stopped rate hike, have not proceeded to download them yet. the country in which everything is bought in installments (house, car, furniture, etc.), civil They are stuck with debts that are difficult to pay off. Experts say that the Fed has indicated that it will start reducing rates this year and this will improve the prospects of citizens.

Still, there are signs that Americans are starting to feel better about the economy due to the decline in inflation. level of consumer confidence There was a surge again in November and December, However, it is unclear whether this will translate into votes for Biden.

the president wants enjoy the moment And as the numbers came out, the White House released a statement signed by the president-candidate: “Today we learned that the U.S. economy grew 3.1% last year, as well as adding 2.7 million jobs, and core inflation fell. Back to pre-pandemic benchmarks. As a result, wages, wealth, and employment are now higher than they were before the pandemic. This is good news for American families and workers. From the center out and from the bottom up, there have been consistent gains during my mandate. “The economy has grown for three years. But our work is not complete.”

And, in a direct campaign message to his rival Donald Trump, he said: “I will not allow extremist republican Giving massive gifts to the rich and big corporations, while raising costs and cutting health and social spending.