As reported by the Conference Board the Consumer Confidence Index (CCI) jumped up 2.6 points to 137.9 in October. That is the highest level in 18 years. The Conference Board noted:
The future outlook, known as the “Expectations Index” (consumers’ short-term outlook for income, business and labor market conditions) increased from 112.5 last month to 114.6 this month.
In addition, the proportion of people expecting more job openings in the months ahead was more than double those anticipating fewer jobs. And more than three times as many people expect an improvement in wages going forward.
The contrast with the record of the Obama administration is stark. After years of wondering if America would ever see true prosperity spreading itself across the country, middle-America feels great about economic prospects well into next year.
This is MAGAnomics at work. MAGAnomics focuses on the middle-class. If the middle-class is growing, thriving and doing well, everything inside the U.S. economy improves. Those who benefit from MAGAnomics are ordinary working people.
As noted at CTH:
This is the key and cannot be repeated enough.
Trump’s MAGAnomic policy focuses on Main Street. The preceeding 30+ years of economic policy focused on Wall Street.
That’s the essential difference.
Overall the 3.5% GDP growth is exceptionally strong. Remember the 2nd quarter was 4.1%. PDJT was ridiculed during the campaign when he said that such a thing was possible. The economists on main-stream broadcasts were incredulous about it. Well, he has delivered. It now appears reasonable that we could hit 5% GDP growth sometime in the future. He along with his advisers understand more about economics than all the economists in MSM and the Obama administration combined.
The Democrats want to put a stop to all of this. This is why they refuse to engage in any discussions of the economy. This is why their only campaign strategy is character assassination.
On November 6th the country needs to give the President the support he needs to continue to “Make America Great Again.”