I THOUGHT EVERYONE WAS IN MOURNING BECAUSE HILLARY LOST. Bloomberg is reporting that consumer confidence rose higher than first thought in November due to Trump's surprise victory over Hillary Clinton:
Consumer confidence rose more than previously reported to a six-month high in November, showing Americans became more optimistic about their finances and the economy after Donald Trump won the presidential election.
The University of Michigan said Wednesday that its final index of sentiment rose to 93.8 from 87.2 in October, after a preliminary reading of 91.6 that reflected pre-election views. The split was stark between respondents in the month’s survey before and after the Nov. 8 vote, with sentiment rising 8.2 points in the post-election group from the pre-election cohort.
The lift suggests that Americans were heartened on the whole by Trump’s victory over Democrat Hillary Clinton, with broad gains in confidence across incomes, ages and regions, according to the report. At the same time, the increase may reflect a “honeymoon” period that could fade unless actual economic conditions improve, said Richard Curtin, director of the Michigan survey.
“President-elect Trump appears to appreciate the importance of his first hundred days; the key issue is whether his economic policies will resonate with the nation’s consumers,” Curtin said in a statement. “The honeymoon may be shorter than usual given the intensity of the opposition, although President-elect Trump has proven himself to be a skilled communicator.”