It’s been another bad week for “Remoaners”. Those who warned the UK economy would nosedive if we voted for Brexit faced another wave of broadly favorable data.
Since the UK’s historic referendum in June, the widely-threatened Brexageddon hasn’t happened. On the contrary, consumer confidence has rebounded, retail sales are up and the housing market has remained firm – pleasing homeowners while further exasperating first-time buyers.
‘The United States of America, right now, has the strongest, most durable economy in the world.” So said Barack Obama last week, in his final State of the Union address. With elections this coming November, this two-term president is now in his last year in office. So what is Obama’s economic legacy? And just how strong is the US economy today?
Obama entered the White House in January 2009, in the midst of America’s worst financial crisis in decades. As his presidency starts to draw to a close, the economic storm clouds are gathering once more. The US stock market, like its British, European and Chinese counterparts, has endured some stomach-churning drops so far this year. The latest was on Friday, when the Dow Jones Industrial Average, having rallied the day before, plunged 300 points soon after opening, on a slew of bad economic data.