American consumer sentiment is on the rise, especially among Republicans, following Donald Trump’s landslide victory over Vice President Kamala Harris earlier this month.
The University of Michigan’s Consumer Sentiment Index rose to 71.8 in November, which marks the highest point since April, Reuters reported. Consumer sentiment was rising before the election, but the latest report shows a massive spike among Republicans who are more optimistic about the economy following Trump’s win.
“Overall, the stability of national sentiment this month obscures discordant partisan patterns,” said Surveys of Consumers Director Joanne Hsu. “In a mirror image of November 2020, the expectations index surged for Republicans and fell for Democrats this month, a reflection of the two groups’ incongruous views of how Trump’s policies will influence the economy.”
“Ultimately, substantial…
