Let’s call it “The Trump Effect.”
Multiple barometers of consumer confidence reported an increase in economic optimism immediately after the Nov. presidential election, a sure sign that Americans were putting their confidence in President-elect Donald Trump.
The most startling statistic? California, where Trump did not carry the popular vote, rose in December to its highest level since October 2007, according to the Orange County Register.
Think about that. They didn’t vote for him, he’s not yet in office, and he’s already beaten Obama’s best consumer confidence record. Clearly, Californians think that Trump is going to do a great job with the economy.
Sudden Trump-fueled optimism was reflected in a University of Michigan study as well. The U of M Survey of Consumers showed that following an October drop in confidence, consumer sentiment increased by a startling 8.2 points immediately after the election, according to Bloomberg.
Consumer confidence is a critical economic indicator because confidence leads to spending, and spending accounts for about 70 percent of U.S. economic output.
“The election of Donald Trump has raised household expectations for the economy to a very high level,” wrote Stephen Stanley, chief economist at Amherst Pierpont Securities, according to the Greater Baton Rouge Business Report.
A little background about the index: In 1985, the index was set to a benchmark of 100. This value is adjusted monthly based on results of a household survey of consumers’ opinions. Expectations of future conditions make up 60 percent of the score.And Donald Trump is KILLING it.
Wildly confident about a stronger, America-first administration, consumers have already been making their voices heard, even those who didn’t vote for Trump. That’s a great sign for the next eight years.
Like us on Facebook – USA Liberty News
Please share on Facebook and Twitter to help spread the good news that we’re uniting in support for our incoming president.
What do you think about the exciting new optimism Americans are showing? Scroll down to comment below!