Consumer confidence rose more than previously reported to a six-month high in November, showing Americans became more optimistic about their finances and the economy after Donald Trump won the presidential election.
The University of Michigan’s final index of sentiment shows a “stark split” between pre-election and post-election views “with sentiment rising 8.2 points in the post-election group from the pre-election cohort.”
The lift suggests that Americans were heartened on the whole by Trump’s victory over Democrat Hillary Clinton, with broad gains in confidence across incomes, ages and regions, according to the report. At the same time, the increase may reflect a “honeymoon” period that could fade unless actual economic conditions improve, said Richard Curtin, director of the Michigan survey.
Trump is off to a flying start. Now it’s up to him to keep the momentum going.