With the uncertainty of the 2016 presidential election behind them, Americans are feeling more optimistic about economic conditions.
Americans are feeling better about the economy today than they have in 15 years. According to a new survey released by The Conference Board on Tuesday, the Consumer Confidence Index hit 113.7 in December, outperforming the expected Index of 109.0. CNBC notes that’s the highest it has been since August of 2001.
The Index is determined by a survey that takes consumer attitudes, confidence toward business conditions, short-term outlook, personal finances and jobs into consideration. Americans are more optimistic about those factors now that the uncertainty of the 2016 presidential election has been resolved.
Lynn Franco, director of economic indicators at The Conference Board, said in a press release, “The post-election surge in optimism for the economy, jobs and income prospects, as well as for stock process which reached a 13-year high, was most pronounced among older consumers.”
Going forward into 2017, it’s likely that consumer confidence will be based on whether or not the expectations of economic growth and policy are actually realized under the new presidential administration.
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