Economic optimism soars after election
It's starting to look a lot like an American morning.
Donald Trump's election has already triggered an upturn in sentiment among consumers and businesses. The vibe session is fading away And the dawn of rosy fingers of a new golden age stretching from sea to shining sea.
Latest Poll by YouGov economist It shows a marked increase in optimism. In a survey of 1,590 American adults conducted from November 23rd to 26th, 41% said they expected their finances to improve One year from now. This is up 10 points from last month, when just 31% expected life to get better, and nearly 20 points from six months ago.
Compare that to 18% who say their lives are better now than they were a year ago. This number is actually unchanged from before the election, and has only increased by 5 points from six months ago.
both Both men and women feel better about their financial future. 43% of men now say they expect their lives to get better, up from 35% in October. 39% of women expect their lives to improve, up from 27% in October.
The majority of Gen Z Americans expect a better life.
A majority of Americans between the ages of 19 and 29 now expect to be better off in a year, up from 38% before the election. Six months ago, only 27% said they expected their lives to get better. This is especially important because young people tend to be more economically optimistic. have a major impact on civilizational issues Family formation, birth rate, economic dynamism, etc. In other words, Gen Z has high hopes for the Trump economy.
What do you think? millennial generation• Not much has changed for Americans between the ages of 30 and 44. 40% expect life to get better, up from 38% in October. But compared to six months ago, it's a significant improvement. At the time, only 26% of people expected their lives to improve.
Generation X They were pretty depressed about their prospects before the election. As of October, only 28% of Americans between the ages of 45 and 64 said they expected their lives to get better. Six months ago, this percentage was as low as 19%. Now it's 39 percent.
of Boomers saw a 12 point improvement On this question, the percentage of Americans 65 and older has increased from 22% in October (17% six months ago) to 34% now.
The increase in the percentage of optimists is spread across income groups. Among people making less than $50,000 a year, 33% expect their lives to improve, up from 25% in October. The percentage of optimists with incomes between $50,000 and $100,000 rose from 31% to 41%. Among people with incomes above $100,000, the proportion expecting their lives to improve rose from 40% to 55%.
Rising optimism among Trump supporters outweighs decline among Harris supporters
Unsurprisingly, the results have a political slant. Among those who voted for President Trump, the percentage who expect their lives to be better in a year's time rose from 25% to 60%. The share of Harris voters who expect their lives to improve fell from 44% to 27%. There was a similar movement among Republicans (up from 27% to 59%) and among Democrats, down from 42% to 31%. However, the share is Optimism among independents increased by 9 points. up to 32 percent.
Perhaps one of the most striking news of this election is the fact that: Donald Trump performed much better with non-white voters More than expected. This can also be seen in the economic optimism numbers. In October, 45% of black Americans said they expected their lives to get better. Currently, it is 43%, almost unchanged. Among Hispanic Americans, 32% expect life to get better, up slightly from 29% in October.
White Americans, who make up 67 percent of Americans surveyed, are far more optimistic. Before the election, only 28% of respondents said they thought life would get better within a year. Today, that percentage has reached 43%. note that White Americans now match Black Americans in optimism. Previously, Hispanics were lagging far behind, but now they are outpacing Hispanics.
Businesses are feeling more positive Also about the future. of Fed Beige Book It was Released on Wednesday. “Although growth in economic activity was generally weak, growth expectations rose modestly in most regions and sectors. Business participants expressed optimism that demand will pick up in the coming months,” the Beige Book reported. Ta.
Even the Fed Chairman Jerome Powell I'm starting to see the light.
Americans voted against the much-derided Biden-Harris economy in November. Trump's victory brings a new feeling: tomorrow will be better than today.
