Gallup: U.S. Economic Confidence Remains Positive After Election

Gallup’s U.S. Economic Confidence Index was +4 for the week ending Nov. 20, the first full week of interviewing after the Nov. 8 presidential election. This is the first positive weekly reading in more than a year and a half.

Gallup's U.S. Economic Confidence Index

 

Last week, Gallup reported an improvement in Americans’ views of the economy in the first few days after the presidential election. This moved the weekly average from -11 in the last full week before the election to 0 for the week of Nov. 7-13, which included both pre-election and post-election interviewing.

Twenty-nine percent of Americans rated the economy as “excellent” or “good” last week, while 23% said it was “poor,” resulting in a current conditions index of +6. That is up from a score of 0 the week before the election and one point shy of the high of +7 recorded in January 2008.

The economic outlook component experienced an even greater improvement. For the week ending Nov. 20, this component edged into positive territory at +1, compared with -5 one week earlier and -21 the week before the election. The latest score is the result of 47% of Americans saying economic conditions in the country are “getting better” and 46% saying they are “getting worse.”

Read more at Gallup: U.S. Economic Confidence Remains Positive After Election | Gallup

WSJ: Economic Resilience Bolsters Prospects for December Rate Rise

The U.S. economy is showing strength in key sectors, offering the Federal Reserve the comfort it has sought to raise short-term interest rates in December.

Minutes from the Fed’s November meeting, released Wednesday following the usual three-week lag, indicated officials were looking for signs of an improving economy before increasing rates. Since then, the U.S. has seen a steady stream of robust economic news and a brighter consumer outlook in the wake of Donald Trump’s election.

With the outcome of the presidential election settled and employment and inflation on the rise, economists and market participants almost overwhelmingly expect the Fed to raise rates in three weeks’ time.

Read more at The Wall Street Journal: Economic Resilience Bolsters Prospects for December Rate Rise – WSJ