Gallup’s U.S. Economic Confidence Index, an average of how Americans rate current economic conditions and whether they feel the economy is improving or getting worse, surged 13 points after last week’s Presidential election.  Americans’ confidence in the U.S. economy increased sharply, 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. According to a Gallup report issued today (November 15, 2016), 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.


The election of Trump has transformed the way Republicans and Democrats view the economy, particularly in their assessments of whether it is getting better or worse.


Republicans’ Economic Outlook Improves Substantially

Republicans and Republican-leaning Independents Outlook on the Economy the Week Before the Election

16% | Percentage of Republicans saying the economy was getting better
81% | Percentage of Republicans saying the economy was getting worse

Republicans and Republican-leaning Independents Outlook on the Economy the Week After the Election

49% | Percentage of Republicans saying the economy was getting better
44% | Percentage of Republicans saying the economy was getting worse


Democrats and Democratic-leaning Independents Outlook on the Economy The Week Before the Election

61% | Percentage of Democrats saying the economy was getting better
35% | Percentage of Democrats saying the economy was getting worse

Democrats and Democratic-leaning Independents Outlook on the Economy The Week After the Election

46% | Percentage of Democrats saying the economy was getting better
47% | Percentage of Democrats saying the economy was getting worse


Gallup notes, however, “It’s too early to say whether these are sustainable gains in confidence. But in the immediate future, Trump’s victory has improved his party’s confidence in the economy. Barring any major events, it is likely that Republicans will shift to a positive index score once the incoming president takes office, while Democrats’ confidence will take a hit.”

 

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