This headline seems almost unthinkable given the negativity of the election we just closed the books on. However, according to the University of Michigan’s Institute of Social Research Survey, the consumer sentiment index ticked up to 93.8 in November 2016 compared to 87.2 in October 2016, an increase of 6.6 points.
The pre-election to post-election gain was even larger at 8.2 points. This optimism seems grounded in the belief that the new administration will be decidedly pro-business and pro-growth. Let’s hope this is a sustainable burst of optimism and not irrational rally of exuberance!