Even during the campaign, it is in managing the economy that now
President-elect Donald Trump felt most confident about. Now that it is certain that he will lead the country, the people seem to share the same sentiment with Trump on the economy. A new survey says Americans are feeling most positive about the U.S. now since the 2008 recession.
Gallup's survey results, in fact, show a tremendous turnaround in the Americans' feelings and sentiments regarding the economy before and after the presidential election. Confidence in the economy stood at a dismal negative 11 points just prior to the election. Now, it remarkably stands at positive 6, higher than at any point during President Obama's 8-year administration.
Gallups hands the credit for the Americans' reinvigorated confidence in the economy to Trump, and not to the outgoing Obama.
The Americans are also apparently not the only ones who are feeling economically exuberant, but the markets are feeling it as well. U.S. markets have skyrocketed and we just saw the Dow closing above 19,000 this week for the first time in its 120-year history.
The victory of Trump who is widely believed to be competent to manage the economy has contributed greatly in boosting the Americans' confidence on the economy. Fair market conditions are also a supporting factor in the confidence boost. Economists believe that the potential U.S. economic growth would also positively impact the rest of the world.
Members of the huge Financial Services Institute, which represents financial advisors, also feel upbeat about the economy, 58% of whom believe 2017 will be a strong year for the U.S. economy.
Perhaps it also helps that President-elect Trump is showing a lot of energy in working for his economic goals this early even before he is inaugurated, including working hard to ensure big American companies keep their operations in the country.