US Consumer Confidence Up in Blue Counties Since Trump’s Victory
Surveys that question respondents about their political affiliation have generally shown that consumer confidence among Republicans has soared since the US elections in November 2016, whereas Democrats have lagged.
When the data are broken down by which way a county voted it is the Democratic areas that have seen the bigger increase in confidence, according to a study published by the Federal Reserve Bank of New York on Friday.
That’s because although initially Republican counties logged bigger gains following the election, which gave conservatives the victories, they have since become static over the last few months, whereas confidence in Democratic counties has moved up.
Americans’ confidence in the economy remains strong heading into the final weeks of the Holiday shopping season.
Gallup’s US Economic Confidence Index registered +7 last week, similar to the prior week’s score of +9 and close to this year’s average of +6.
Americans’ expectations for how the GOP’s tax bill will affect the economy has not effected confidence much, if at all.
For his part, President Trump heralded the economy and market in a Tweet as he seeks a sweeping tax-reform plan.
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