It appears that Americans saw the election of Donald Trump as good reason to be optimistic.

According to Newsmax, confidence in the U.S. economy soared to record highs at the time President Donald Trump officially entered the White House, as optimism was higher in January than in any other month since 2008.

 

Gallup’s “U.S. Economic Confidence Index” was at an average of plus 11, the highest monthly average in Gallup’s nine-year trend. The index peaked at plus 19 for the Jan. 21-23 three-day average after Trump’s inauguration and shortly before the Dow Jones industrial average hit a new high.

The Gallup index is actually an average of two components – how Americans rate the current economic conditions, and, whether they feel the economy is improving or getting worse. The index has a maximum of plus 100 if all Americans said that they economy was improving and doing well, and minimum of minus 100 if all Americans said the economy was doing poorly or getting worse.

In January, 31 percent of Americans rated the economy as “good“ or “excellent,” while 21 percent said the economy was “poor,” resulting in a current conditions score of plus +10, marking the highest monthly reading for this component since 2008.

Also seeing an increase of plus 11 in January was the economic outlook component, which was the result of 52 percent of Americans saying economic conditions in the country were “getting better,” while 41 percent said they were “getting worse.“

“While his first few weeks have certainly been volatile and controversial, Trump will be a demanding leader who applies the best of his negotiating skills to push for U.S. growth,” said author David Horowitz.

“Trump won’t be an ideological purist like Republicans who support free trade but don’t fight for fair trade.”

Horowitz also made a strong statement about the prior administration.

“We’ve had an anti-business president now for eight years who doesn’t take a hard-nosed attitude towards these deals. Trump is going to get better deals for us, which is still free trade.”

“Trump will also lead the way in making infrastructure spending to boost the U.S. economy,” said Horowitz.

“If the economy grows as it will under Trump, there’s going to be a lot more money to spend.”

For more on the effects of Donald Trump’s election on the U.S. economy, including small business optimism being at the highest level in 37 years, click here. ##

(Image credits are as shown above.)

Submitted by RC Williams to the Daily Business News for MHProNews.