Economic optimism soars

American optimism on the economy is attaining new heights and US President Donald Trump's approval ratings look to be benefiting, at least to some extent. The CNBC All-American Economic Survey has found that for the first time in at least 11 years more than fifty percent of the respondents to the survey rated the economy as good or excellent, while about a record 41 percent of the respondents expected the economy to improve in the coming year. Public Opinion Strategies' Micah Roberts who is the Republican pollster for the survey said that we are not measuring a marginal change in the economy, we are actually measuring a different economy.

The poll was conducted from the 10th to the 13th of December with 800 adults across the nation, with a margin of error of 3.5 percentage points by that firm and Democratic Pollster Hart Research. This particular survey revealed that 42 percent of Americans expect their wages to rise in the next year and 41 percent of homeowners see their home values going up which is the highest level recorded since the year 2007. In the year 2011, while the country remained in an economic funk from the financial crisis, just about 15 percent of homeowners thought their home prices would rise.

Roberts said that the year 2017 is the year that Americans finally put the recession behind them in terms of their attitudes about the economy and it took a change in leadership to make this happen. Trump's approval rating has mostly been disconnected from the better economic data but that could be changing. With the gross domestic product strongly rising in the previous two quarters and with the rate of unemployment remaining low, the approval rating of Donald Trump has jumped.

About 42 percent in the poll approved of the job Donald Trump is doing as president and is up 4 points from the survey done in the month of September, while 49 percent disapproved the same which is down by 3 points. The president's net negative rating of minus 7 is half of what it was in the summer and this is his best since he had taken office, but it is still weak for such a strong economy. The president has made the best strides with the members of his own party and is up 10 points from the previous quarter to an 83 percent approval rating.

January 21, 2018 - 05:45
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