Trump Victory Sends Consumer Confidence Soaring To Post-Lehman Highs

Having fallen to a 3-month low in October, Conference Board Consumer Confidence soared to 107.1 in November post-Trump - the highest since July 2007. This confirms Gallup's survey which saw economic confidence at its highest level since before Lehman, swinging positive post-Trump after being almost uniformly negative since Obama's election.

Americans haven't been much more confident than this in decades... (though notably, while plan to buy a home or major appliance gained, plans to buy a car dropped)

 

And this confirms Gallup's survey results...Americans expressed more positivity about the U.S. economy last week than they have at any other time during the nine years that Gallup has been tracking the U.S. Economic Confidence Index.

Economic confidence has been below zero nearly continuously since 2008, hitting its lowest level of -65 in October 2008 at the onset of the financial crisis. Aside from the recent pair of positive index readings, Gallup's weekly scores were positive several times during a brief, three-month span from late 2014 to early 2015, when U.S. consumers enjoyed a sustained drop in gasoline prices.

Notably, Bloomberg points out that Consumer Confidence declined markedly pre-election in the swing states of Ohio, Florida, and Pennsylvania in the run up to the election...

 

But November saw quite a spike...

 

As Gallup concludes, it's too early to tell whether this uptick in Americans' positivity will last as Trump's term begins in January. But two weeks of positive index readings on the heels of his unexpected victory reveals a degree of economic confidence Americans have not expressed since the recession.