The Conference Board has released its Consumer Confidence Index report for November 2024, indicating a rise in consumer sentiment. This increase coincides with the anticipation of a second term for President Trump, suggesting an optimistic outlook among consumers.
House Budget Committee Chairman Jodey Arrington commented on the report, stating: “Americans’ confidence in their economic future started turning around when it became evident that the unsustainable deficit spending and failed Biden-Harris policies would be replaced with a Trump economic agenda, and it continues to improve as we get closer to launching round two of a Republican-led surge in economic growth and opportunity.”
The University of Michigan's latest data highlights that a record number of consumers expect no real income growth over the next five years. Despite this, President Trump's re-election and his appointment of Scott Bessent as Treasury Secretary have positively impacted stock market indices, reflecting renewed confidence among American consumers and investors.
Further information from the House Budget Committee includes statements by Chairman Arrington on various topics such as President Trump's proposed Department of Government Efficiency and reactions to previous economic reports.
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