Americans’ confidence in the US economy rose to record highs at the time President Donald Trump officially entered the White House, as optimism was higher in January than in any other month since Y 2008.
Gallup’s US Economic Confidence Index averaged plus+11, the highest monthly average in Gallup’s 9-year trend.
The index peaked at plus+19 for the 21-23 January 3-day average after President Trump’s inauguration and shortly before the DJIA hit a new high.
However, the index’s high point did not hold.
The 3-day averages have since dipped to smaller single-digit scores, including a plus+8 average for 3-5 February
Gallup’s index is the average of 2 components:
- Americans rate current economic conditions and whether they feel the economy is improving or getting worse. The index has a theoretical maximum of plus+100 if all Americans were to say the economy is doing well and improving, and
- a theoretical minimum of minus-100 if all Americans were to say the economy is doing poorly and getting worse.
In January, 31% of Americans rated the economy as “excellent” or “good,” while 21 percent said it was “poor,” resulting in a current conditions score of plus +10, marking the highest monthly reading for this component since Y 2008.
The economic outlook component also reached a new high score of +11 in January. This score was the result of 52$ of Americans saying economic conditions in the country were “getting better,” while 41% said they were “getting worse.”
While his 1st few weeks have certainly been volatile and controversial, President Trump will be a demanding leader who applies the best of his negotiating skills to push for US growth.
President Trump will not be an ideological purist, the Congressional Democrats “hate” and will do nothing to help him Make America Great Again.
As the economy grows under President Trump, there is going to be a lot more money to spend.
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