In the US, there are concerns about a recession. But Joe Biden’s cornucopia has artificially extended the boom: Factories are being built like they haven’t been for a long time. Investment and employment in the construction industry are higher than ever.
US President Joe Biden at the laying of the foundation stone for a new Intel semiconductor plant in New Albany.
Hardly anyone saw inflation coming, but the “most-predicted recession of all time” is now slowly emerging in America. There are still a great many vacancies and unemployment is at a record low, but leading indicators point to an economic slowdown, at least in the production sector. After the economy has been overheating amid massive post-pandemic monetary and fiscal stimulus, who will be surprised?
2023-06-11 15:15:23
#Bidens #industrial #policy #construction #factories #booming #USA
