Trump's victory sparks consumer confidence surge

[mystery-ak]

Nov 18, 2024 -
Economy
Trump's victory sparks consumer confidence surge

Emily Peck

After years of wondering why there was a disconnect between how Americans feel about the economy (bad) and the actual state of the economy (pretty good), we may have the answer — it was politics all along.

Why it matters: If politics is the main driver of consumer sentiment, then it's no longer nearly as useful as an economic indicator.

The big picture: A real-time measure of consumer sentiment abruptly turned positive last week for the first time since June 2021, as Republican optimism surged on Donald Trump's victory.

    Overall sentiment hit 100.6 on Nov. 11, according to the Morning Consult Consumer Sentiment Index. (Anything over 100 is positive.)
    Heading into the election, Republican sentiment was negative (around 83), as it had been essentially since Biden entered the White House. It spiked to 107.5 in the days after Trump won.
    Democratic sentiment fell at the same time, but the drop was mild in comparison and the overall index still turned upbeat.
    "It's pretty clear politics was a big part of it," says Ben Harris, vice president and director of economic studies at the Brookings Institution.

more
https://www.axios.com/2024/11/18/consumer-confidence-trump-republicans-white-house

[cato potatoe]

The sentiment is anticipatory of important policy changes (or extensions, in the case of tax brackets). 

[DB]

A "pretty good" economy doesn't need 1.9 trillion dollars of deficit spending a year to make it "good". It provides the illusion of a "good" economy while racing towards economic ruin. Emily Peck is a moron.