While surveys show that Americans are relieved that the 2016 election is over, another carryover of Donald Trump’s election is a surge in consumer confidence as he begins to nominate his cabinet and transition to the Presidency.
According to surveys reported on Bloomberg, the hope of promised tax cuts and deregulation are putting many in a spirited mood about the future of the economy, with the consumer confidence rising to 98 from 87 in just the past few weeks.
Another group with a sunny economic outlook is the National Federation of Independent Business (NFIB) that represents small business enterprises. Their ‘index of optimism’ saw the sharpest rise since November of 2009.
Adding to this trend are home builders, with the National Association of Homebuilders realizing an 11-year high this month in their economic outlook.
Combined with a Dow headed toward a record mark of 20,000 at this time, markets and consumers have responded overwhelmingly to Trump’s election with exceptional optimism, with high hopes of economic strength, expansion and personal prosperity.
