The transition to the Trump administration has received positive reviews.
If you felt joy and serenity in the aftermath of Donald Trump's victory on Election Day, you're not alone.
This time, American households and businesses are much calmer and more hopeful than before. According to a poll released Friday by Pew Research. 70 percent of Americans They are very or somewhat confident that the transition to the Trump administration will go smoothly. Similarly, a majority of Americans say they have a positive review of President Trump's post-election actions.
A majority of Americans (53%) say: approve the next president's plans for the country. When asked if they approved of President Trump's actions after the election, 53% answered in the affirmative. This is higher than the 40% who said they approved of Mr. Trump's cabinet appointments in November 2016 and the 41% who said they supported Mr. Trump's job in explaining his policies and plans for the future.
Of course, there are often partisan differences in how people react to elections. As recently as October, only 10% of Republicans said they were satisfied with the current state of the country, according to Pew magazine. Currently, 35% are satisfied. Democrats have seen a decline in satisfaction. from 38 percent to 24 percent.
Consumer sentiment shows Republican hopes are trumping Democratic disappointment.
Similarly, a University of Michigan study on consumer sentiment found that An explosion of hope for the economy It continues to slump among Republicans, and continues to slump among Democrats. The Republican Expectations Index rose from 61.4 to 89.2, its highest level since October 2020. The Democratic Party Expectations Index fell from 93.1 to 75.4. The number of independents remains almost unchanged. This pushed up the expectations index by 3.8%. As a result, overall consumer sentiment has improved, even though current indicators have worsened.
How does it compare to four years ago? when Biden wins, consumer sentiment actually declines. Although the current situation index improved slightly, the expectation factor decreased significantly. Perhaps counterintuitively, Democrats' views of the current situation declined from October 2020 to November 2020, while Republicans' views improved. However, when measuring expectations, the outlook for Republicans collapsed and the outlook for Democrats improved.
Famously, consumer sentiment remained very low for the next four years. Six months after Biden's electionconsumer confidence was about the same as pre-election levels. Six months later, prices have fallen by about 18% and are falling further as the worst inflation in 40 years hits the country.
In other words, Americans feel really good about our country and our economy.. While the sentiment numbers may show a partisan tinge, it's clear that Republican vitality is growing much more strongly than the Democratic Party's penchant for political gloom.
Comparison with the last time Trump was elected president It's hard to tell because the University of Michigan's consumer survey only occasionally measures partisan support. So we can see how Republicans and Democrats felt in October 2016 (Democrats were much more positive than Republicans) and February 2017 (Republicans were much more positive). Overall, consumer sentiment has increased since President Trump's election, with both expectations and current indicators increasing.
flash! Bang! Increased business confidence
american Companies are also feeling positive. About the economy. The S&P Global Flash Composite Purchasing Managers Index beat expectations and rose to its highest level in 31 months. Survey services are suffering as they hit a 32-month high Manufacturing index rises It reached its highest level in four months. Optimism for production rebounded markedly in November, marking the second consecutive month of recovery after hitting a 23-month low in September. Confidence reached its highest level since May 2022, with manufacturing showing particular gains, and optimism reached a 31-month peak.
“Business mood brightened in November, with confidence that the next 12 months could reach a 2-1/2-year high,'' said Chris Williamson, chief business economist at S&P Global Market Intelligence. “Lower interest rates and the prospect of a pro-business approach by the incoming administration added to optimism, resulting in further increases in production and inflows to the order book in November.”
And here's a hint of what our friends do larry kudrow and david malpass I made a call to “Blue collar boom”. Williamson said the promise of domestic tariffs has boosted confidence in the manufacturing sector and spurred job growth in factories. The Philadelphia Fed's monthly manufacturing index was weak overall, but there was an increase in expectations and an unexpected rise in employment.
Numbers don't lie. Hope and confidence are returning, and the economy is starting to feel it.
