The sentiments surrounding the U.S. economy are experiencing a resurgence in optimism following the election of Donald Trump. Poll data from YouGov, gathered between November 23 and 26, indicates a significant increase in positive financial outlook among consumers and businesses alike. Specifically, 41% of Americans surveyed now believe they will be better off financially in a year, marking a notable 10-point rise from the previous month, and a staggering 20-point increase from six months ago. This newfound optimism starkly contrasts with the mere 18% of citizens who feel they are better off now compared to a year prior, a statistic that has remained steady since the election.
The positive sentiment is pervasive across various demographics, with both men and women reflecting a more favorable view of their financial futures. In particular, men’s expectations have risen from 35% to 43% post-election, while women’s expectations also saw a boost from 27% to 39%. Among younger demographics—specifically Gen Z individuals aged 19 to 29—there has been a dramatic increase, with 51% now anticipating improved financial conditions, up significantly from 38% prior to the election and just 27% six months earlier. This level of optimism among younger voters often correlates with broader social issues, including family dynamics and economic growth.
Millennials’ expectations have shown modest improvement, with 40% of Americans aged 30 to 44 expressing a belief that they will be better off, a slight increase from 38% in October. Generationally, Gen X, which includes individuals aged 45 to 64, displayed the most substantial change, with optimism rising from 28% in October to 39% after the election, a marked upward trend considering it sat at only 19% six months earlier. Furthermore, Baby Boomers aged 65 and older reported an increase from 22% to 34%, showcasing broad-based optimism across age groups.
Income-wise, the trend of increased optimism is evident across multiple brackets. Individuals earning less than $50,000 annually showed an increase from 25% to 33% in those expecting improved financial situations. Similarly, optimism rose among those earning between $50,000 and $100,000, from 31% to 41%, and even among those with incomes exceeding $100,000, where expectations shifted from 40% to 55%. This rise in confidence across different income levels suggests a positive reaction to the anticipated economic changes stemming from the election results.
Politically, the survey results reveal a marked difference in sentiment between Trump’s supporters and Harris’s followers. Optimism among Trump voters soared from 25% to 60%, whereas expectations among Harris supporters dropped significantly from 44% to 27%. This disparity is also reflected in the Republican and Democratic demographics, with Republican optimism increasing to 59% from 27%, while Democratic optimism diminished to 31% from 42%. Independents also reported an uptick in optimism, highlighting a broader appeal of Trump’s policies across party lines.
Finally, the positive trend is not limited to individuals; businesses are also expressing a renewed sense of confidence in their economic prospects. The Federal Reserve’s Beige Book noted a general rise in growth expectations across various sectors and geographical areas, with business contacts anticipating increased demand in the near future. This business optimism aligns with the sentiments of the American populace, reflecting a collective shift towards believing that the economic landscape is set for improvement post-election. Ultimately, the triumph of Donald Trump appears to be revitalizing hopes for a more prosperous economic environment, contrasting sharply with the sentiments associated with the previous Biden-Harris administration.
