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New Poll Shows Donald Trump Is Making Spirits Brighter for American Consumers

via The Independent on Youtube

Consumer sentiment in the US saw a significant increase in December, contrary to predictions of a slowdown.

Factors contributing to this surge include declining inflation expectations, a robust job market, and growing optimism related to the upcoming elections, particularly among Republicans.

The increased sentiment has led to higher holiday spending estimates, with Gallup reporting the highest figures in years, potentially indicating a substantial rise in holiday sales. (Trending: Dr. Fauci Says the Unthinkable About Going To Church)

Director of the University of Michigan’s survey Joanne Hsu highlighted, “Sentiment for these consumers appears to incorporate expectations that the elections will likely yield results favorable to the economy.”

According to Gallup, “the amount Americans estimate they’ll spend on Christmas or other holiday gifts this year rose more than $100 to $975, the highest in Gallups’ November measures of seasonal spending since 1999. More importantly, this is a significant increase from the $923 estimate in Gallups’ October poll.”

“This is only the fifth time in the 18 years since 2006 that Gallup has asked the holiday spending question in both October and November that the average amount has increased between the two months. More typically, consumers’ spending estimate declines as the season progresses,” continued the pollsters.

“Last year at this time, U.S. holiday retail sales seemed poised to increase by between about 4% and 6%, according to Gallup’s modeling comparing its holiday spending estimate trends with actual holiday retail sales for each year, explained Gallup.

“In fact, average November-December 2022 retail sales (not including autos and gas) increased by 6.2%,” the report continued.

“The same modeling procedure applied to Americans’ restrained spending estimate this October suggested holiday sales would increase by about 4% — a relatively moderate rate of annual growth similar to the long-term average,” wrote the pollsters.

“Now, with consumers’ spending estimate rising to $975, it appears year-over-year holiday sales could grow by somewhere between 6% and 9%.”

Concluding, “That would be all the more impressive because inflation is running much lower this year than last year. So, a much bigger part of the increase would be a real rise in spending and not just consumers struggling to keep up with higher prices.”

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