Consumer and business confidence are the foundation of a strong economy and President Trump has sent them both sailing off the charts.
When we have a simplified tax code that reassures businesses that there will not be constant changes, it will do the same.
When people have confidence, they spend money. When businesses have confidence, they invest, hire and expand. It is a chapter right out of a high school economics textbook.
The Conference Board’s Consumer Confidence Index surged to 114.8 in February. That is up 3 points from January’s 111.8. That is the best reading since July 2001!
February’s reading also topped a 15-year high of 113.7 set back in December after Donald Trump’s election victory.
The people believe that things will get better! They have confidence that things are getting and are going to continue to get….BETTER!
The Daily Caller reports:
“Consumers rated current business and labor market conditions more favorably this month than in January,” Lynn Franco, Director of Economic Indicators at The Conference Board, said in the report.
“Expectations improved regarding the short-term outlook for business, and to a lesser degree jobs and income prospects,” Franco continued. “Overall, consumers expect the economy to continue expanding in the months ahead.”
Consumers’ assessment of current market conditions held steady in February, with those saying conditions are good, declining from 29 percent to 28.7 percent. Those who said that market conditions are bad decreased at a greater rate, dropping from 15.9 percent to 13.2 percent.
One of the major strengths the President has is the way he exudes confidence! I have never seen a speech where he was not upbeat and positive. He has confidence in himself and confidence in the American people. He really believes that he can make America Great Again!
He has already started by doing just one thing… inspiring confidence!
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