Economics

US House of Representatives election: live results

Published

4 months ago

November 4, 2024

On November 5th America will pick its next president, as well as the House of Representatives and a third of the Senate. The Economist will publish live results and analysis covering every race. Check back here soon after first polls close at 6pm EST / 11pm GMT to see in real-time how many votes Kamala Harris and Donald Trump are picking up, and which of them will win the White House, as well as which party will control the two chambers of Congress.

Before then, this page provides a guide for what to look out for ahead of the election. Elsewhere, our daily updated election forecasts calculate each presidential candidate’s chances of winning, and who might take the House and the Senate. Our poll tracker rounds up the latest presidential polls. And The US in brief, our daily update delivered by newsletter, gives you all the election stories that matter.

What to watch

This year, given large numbers of people have voted early, many expect the counting will be slow. Officials, however, insist that ballot tallying will be faster than in previous years. The results could be known just a few hours after polls close across the country—as they were for seven of the past ten elections (see chart). Or they could take days to become clear.

The first states to conclude voting will be on the east coast. Six states, including the key battleground of Georgia, will finish voting statewide at 7pm EST. By 8pm, 19 more states will have joined them and a flurry of data will be published. Readers should exercise caution: little of substance will be revealed at this stage of the night, unless the election is a landslide.

In some states, where one candidate is heavily favoured, the election result will be called almost immediately. Unless there is a major upset or a striking trend, these calls may not say much about the election overall. The absence of a call may be more informative: it may indicate that an expected landslide has not happened, for instance.

The final result will probably come down to seven key states. Of those, Georgia and Michigan may be the fastest to count. North Carolina is also traditionally quick to count but may experience disruption due to Hurricane Helene.

Others could well be slower. Pennsylvania will not start processing millions of postal ballots until the morning of election day. Arizona and Nevada, in the west, finish voting later that day and take longer to count their mail-in ballots, which are popular in both states. Nevada accepts and counts ballots which arrive after election day, too (although these are unlikely to flip the state).

Read more about what to watch on the night, and in the days that follow.

What are the candidates’ paths to victory?

Pennsylvania is the most important state for both candidates. (Mr Trump won Pennsylvania in 2016, but it flipped to Joe Biden in 2020.) According to our forecast model, as of November 4th, Ms Harris wins in 92% of our simulations when she takes the Keystone State’s 19 electoral votes; Mr Trump wins in 88%.

Mr Trump has even better odds when he wins Michigan (95%), but he has more alternative routes to the presidency without Michigan than without Pennsylvania. Other swing states are less influential: Ms Harris and Mr Trump win the election in only 71% and 67% of simulations, respectively, when they win Nevada, a state with only six electoral votes.

The most likely outcome—occurring in 19% of our simulated elections on November 4th—is that Mr Trump will win all seven swing states and go on to win the presidency. The second-most likely is the exact opposite: our model gave Ms Harris a 9% chance of sweeping the seven. The third would give all of the swing states except Nevada to Mr Trump—that would be a repeat of the 2016 result. But based on all of our model’s scenarios, the race is a toss-up: neither candidate has a lead big enough to offset the kind of polling errors seen in previous presidential elections.

Economics

Germany’s election will usher in new leadership — but might not change its economy

Published

1 day ago

February 21, 2025

Business Finance News

Production at the VW plant in Emden.

Sina Schuldt | Picture Alliance | Getty Images

The struggling German economy has been a major talking point among critics of Chancellor Olaf Scholz’ government during the latest election campaign — but analysts warn a new leadership might not turn these tides.

As voters prepare to head to the polls, it is now all but certain that Germany will soon have a new chancellor. The Christian Democratic Union’s Friedrich Merz is the firm favorite.

Merz has not shied away from blasting Scholz’s economic policies and from linking them to the lackluster state of Europe’s largest economy. He argues that a government under his leadership would give the economy the boost it needs.

Experts speaking to CNBC were less sure.

“There is a high risk that Germany will get a refurbished economic model after the elections, but not a brand new model that makes the competition jealous,” Carsten Brzeski, global head of macro at ING, told CNBC.

The CDU/CSU economic agenda

The CDU, which on a federal level ties up with regional sister party the Christian Social Union, is running on a “typical economic conservative program,” Brzeski said.

It includes income and corporate tax cuts, fewer subsidies and less bureaucracy, changes to social benefits, deregulation, support for innovation, start-ups and artificial intelligence and boosting investment among other policies, according to CDU/CSU campaigners.

“The weak parts of the positions are that the CDU/CSU is not very precise on how it wants to increase investments in infrastructure, digitalization and education. The intention is there, but the details are not,” Brzeski said, noting that the union appears to be aiming to revive Germany’s economic model without fully overhauling it.

“It is still a reform program which pretends that change can happen without pain,” he said.

Geraldine Dany-Knedlik, head of forecasting at research institute DIW Berlin, noted that the CDU is also looking to reach gross domestic product growth of around 2% again through its fiscal and economic program called “Agenda 2030.”

But reaching such levels of economic expansion in Germany “seems unrealistic,” not just temporarily, but also in the long run, she told CNBC.

Germany’s GDP declined in both 2023 and 2024. Recent quarterly growth readings have also been teetering on the verge of a technical recession, which has so far been narrowly avoided. The German economy shrank by 0.2% in the fourth quarter, compared with the previous three-month stretch, according to the latest reading.

Europe’s largest economy faces pressure in key industries like the auto sector, issues with infrastructure like the country’s rail network and a housebuilding crisis.

Dany-Knedlik also flagged the so-called debt brake, a long-standing fiscal rule that is enshrined in Germany’s constitution, which limits the size of the structural budget deficit and how much debt the government can take on.

Whether or not the clause should be overhauled has been a big part of the fiscal debate ahead of the election. While the CDU ideally does not want to change the debt brake, Merz has said that he may be open to some reform.

“To increase growth prospects substantially without increasing debt also seems rather unlikely,” DIW’s Dany-Knedlik said, adding that, if public investments were to rise within the limits of the debt brake, significant tax increases would be unavoidable.

“Taking into account that a 2 Percent growth target is to be reached within a 4 year legislation period, the Agenda 2030 in combination with conservatives attitude towards the debt break to me reads more of a wish list than a straight forward economic growth program,” she said.

Change in German government will deliver economic success, says CEO of German employers association

Franziska Palmas, senior Europe economist at Capital Economics, sees some benefits to the plans of the CDU-CSU union, saying they would likely “be positive” for the economy, but warning that the resulting boost would be small.

“Tax cuts would support consumer spending and private investment, but weak sentiment means consumers may save a significant share of their additional after-tax income and firms may be reluctant to invest,” she told CNBC.

Palmas nevertheless pointed out that not everyone would come away a winner from the new policies. Income tax cuts would benefit middle- and higher-income households more than those with a lower income, who would also be affected by potential reductions of social benefits.

Coalition talks ahead

Following the Sunday election, the CDU/CSU will almost certainly be left to find a coalition partner to form a majority government, with the Social Democratic Party or the Green party emerging as the likeliest candidates.

The parties will need to broker a coalition agreement outlining their joint goals, including on the economy — which could prove to be a difficult undertaking, Capital Economics’ Palmas said.

“The CDU and the SPD and Greens have significantly different economic policy positions,” she said, pointing to discrepancies over taxes and regulation. While the CDU/CSU want to reduce both items, the SPD and Greens seek to raise taxes and oppose deregulation in at least some areas, Palmas explained.

The group is nevertheless likely to hold the power in any potential negotiations as it will likely have their choice between partnering with the SPD or Greens.

“Accordingly, we suspect that the coalition agreement will include most of the CDU’s main economic proposals,” she said.