Presidential elections as a wildcard for the economy

Lower US interest rates will certainly help to get the economy's ailing manufacturing sector back on its feet, but perhaps not until after the presidential election.

“Business is cooling down and we don’t expect a recovery before the election,” said a senior executive at a paper manufacturer.

One big difference between Democrats and Republicans, for example, is on the energy issue.

The Democrats want to promote long-term investments in “green energy” such as wind and solar power as well as batteries and reduce the use of fossil fuels, emphasized the chairman of the ISM survey, Timothy Fiore.

In the short term, Republicans would prefer to expand production of domestically produced oil and gas, he noted.