Gallup: U.S. Economic Confidence Surges After Election
Are we already seeing “The Trump Effect?”
According to Gallup, there has been a 13-point increase in the economic confidence index post-election. In fact, the index is positive for the first time since March 2015. Republicans’ economic outlook improved significantly since Donald Trump’s stunning victory over Hillary Clinton on Tuesday, November 8th.
“Americans’ confidence in the U.S. economy increased sharply after the election, moving from a slightly negative evaluation (-10) to a slightly positive one (+3). Gallup’s U.S. Economic Confidence Index had been consistently negative throughout the year leading up to the election.
Gallup’s U.S. Economic Confidence Index is the average of two components: how Americans rate current economic conditions and whether they feel the economy is improving or getting worse. The index has a theoretical maximum of +100 if all Americans were to say the economy is doing well and improving, and a theoretical minimum of -100 if all Americans were to say the economy is doing poorly and getting worse.
The index has registered positive only a handful of times over the nine years Gallup has tracked it daily — the most recent being March 2015. For the week of Nov. 7-13, including two pre-election and five post-election days of interviewing, the index averaged 0.
The increase in economic confidence mostly stems from Republicans’ more positive views after Republican Donald Trump won the election. Gallup has previously noted that Americans view the economy through a political lens. Republicans have had a dismal view of the economy — especially of its future direction — during Democratic President Barack Obama’s two terms.
After Trump won last week’s election, Republicans and Republican-leaning independents now have a much more optimistic view of the U.S. economy’s outlook than they did before the election. Just 16% of Republicans said the economy was getting better in the week before the election, while 81% said it was getting worse. Since the election, 49% say it is getting better and 44% worse.
Conversely, Democrats and Democratic-leaning independents’ confidence in the economy plummeted after the election. Before the election, 61% of Democrats said the economy was getting better and 35% worse. Now, Democrats are evenly divided, with 46% saying it is getting better and 47% saying it is getting worse.”
To read more, go to Gallup.com