Trump vs. Clinton Contest Weighing on Consumers Says Economist

The presidential campaign is hurting the economy because the uncertainty is causing Americans to cut back on their spending, said Dan North, chief economist North America for Euler Hermes. 'The consumer confidence data started showing a split between how consumers feel now and how they feel about the future when the campaign started,' said North. 'That split has reached the widest level since the recession. And the outlook is not positive.' As to whether it's hurting the stock market, well, North said that remains unclear. 'There are so many things that effect the stock market including the dollar, oil, earnings and geopolitics that it is very difficult to determine the campaign's effect on stocks,' said North. North said he expects to see slow growth of less than two percent for rest of the year.