Consumer sentiment in US jumps after Trump win

New York: Consumer confidence rose more than previously reported to a sixmonth high in November, showing Americans became more optimistic about their finances and the economy after Donald Trump won the presidential election.

The University of Michigan said Wednesday that its final index of sentiment rose to 93.8 from 87.2 in October, after a preliminary reading of 91.6 that reflected pre-election views. The split was stark between respondents in the month's survey before and after the November 8 vote, with sentiment ris ing 8.2 points in the post-election group from the pre-election cohort.

The lift suggests that Americans were heartened on the whole by Trump's victory over Democrat Hillary Clinton, with broad gains in confidence across incomes, ages and regions, according to the report. At the same time, the increase may reflect a “honeymoon“ period that could fade unless actual economic conditions improve, said Richard Curtin, director of the Michigan survey .

“Trump appears to appreciate the importance of his first hundred days; the key issue is whether his economic policies will resonate with the nation's consumers,“ said Curtin.