Optimism about the nation’s economic future is at its highest level in years following Donald Trump’s election to the presidency. But continuing international uncertainty, central bank manipulation and lingering questions about the feasibility of some of the president-elect’s more ambitious plans mean caution is key.
According to the results of a recent CNBC economic survey, Americans feel better about the nation’s economic situation than they have since before President Barack Obama’s election.
The surge was powered by Republicans and independents reversing their outlooks. Republicans swung from deeply pessimistic, with just 15 percent saying the economy would improve in the next year, to strongly optimistic, with 74 percent believing in an economic upswing. Optimism among independents doubled but it fell by more than half for Democrats. Just 16 percent think the economy will improve.
A majority of Americans tell CNBC they are “comfortable and prepared to support” a Trump presidency. The 56 percent of respondents who now back the president-elect represent a sharp change from the 43 percent who were asked the question just before the election in November by NBC News and The Wall Street Journal. The percentage is driven by 91 percent of Republicans supporting Trump but also 54 percent of independents and even 23 percent of Democrats.
The projections from average Americans mirror projections from global economic forecasters.