Buoyed by the election of President-elect Trump, Americans are expressing the most confidence in the U.S. economy since the 2008 recession, according to a new survey.
What's more, financial advisors in another survey are also giddy about the prospects of the economy and stock market.
Gallup's latest survey showed a remarkable 17-point turnaround since just before the election. Confidence in the election was at a dismal negative 11 points right before the election. Now it as a positive 6, higher than at any point during President Obama's eight years.
Gallup gives Trump, not Obama, the credit.
Said Gallup:
It's not just Americans who have felt more economically exuberant since the election — U.S. markets have skyrocketed, with the Dow closing above 19,000 this week for the first time in its 120-year history.
So, while the election's results may have improved Americans' outlook on the economy, favorable market conditions may have driven their confidence further upward. This also comes as many economists expect that potential U.S. economic growth could have a significant effect worldwide.
It's too early to tell whether this uptick in Americans' positivity will last as Trump's term begins in January. But two weeks of positive index readings on the heels of his unexpected victory reveals a degree of economic confidence Americans have not expressed since the recession.
Secrets also reported today that members of the huge Financial Services Institute, which represents financial advisors, feel good about the economy. Some 58 percent believe 2017 will be a strong year.
Paul Bedard, the Washington Examiner's "Washington Secrets" columnist, can be contacted at pbedard@washingtonexaminer.com
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