President-elect Donald Trump gave personal thanks for the news that the U.S. Consumer Confidence Index, a measure of consumer confidence in the U.S. economy, increased to its highest level going all the way back to August of 2001.
Trump thanked himself, literally tweeting “Thanks Donald” on Tuesday evening.
The U.S. Consumer Confidence Index for December surged nearly four points to 113.7, THE HIGHEST LEVEL IN MORE THAN 15 YEARS! Thanks Donald!
— Donald J. Trump (@realDonaldTrump) December 28, 2016
CNBC reported that the post-election surge in economic indicator was mostly among older consumers and that the number far surpassed the 109 number that was predicted by economists:
“Consumer Confidence improved further in December, due solely to increasing Expectations which hit a 13-year high (Dec. 2003, 107.4),” Lynn Franco, director of economic indicators at The Conference Board, said in a press release.
“The post-election surge in optimism for the economy, jobs and income prospects, as well as for stock prices which reached a 13-year high, was most pronounced among older consumers,” the director said.
Franco added that consumer confidence in 2017 will hinge on whether expectations of economic growth and policy are met.
As much as optimism has improved, I believe that as much as there is optimism caused by the incoming Trump administration, there is also a sense of relief that the Marxist wrecking ball known as Barack Obama is leaving office after eight long and destructive years.