The first major consumer sentiment since t♕he presidential election showed that people felt better about the ec🌱onomy, but the bump wasn’t as big as economists were expecting.

The Michigan Consumer Sentiment Index for November finished at 71.8, an improvement over the October reading, but it was below the 澳洲幸运5官方开奖结果体彩网:preliminary November reading of 73.0, where consumer surveys were concluded just before the election of Republican Donald Trump to the presidency. The final reading was also lower than the forecast of 73.5 by economists surveyed by The Wall Street Journal and Dow Jones Newswires.

The final result showed that sentiment declined for some c🃏on🍸sumers after the election result, said Joanne Hsu, director of the Michigan Surveys of Consumers.

“The expectations index surged for Republicans and fell for Democrats this month, a reflection of the two groups’ incongruous views of how Trump’s policies will influence the ec🎐onomy,” Hsu wrote. 

Sentiment Improves for Fourth Straight Month

Overall, consumer sentiment has incrementally improved over the past four months in the 澳洲幸运5官方开奖结果体彩网:run up to the Nov. 5 election. Sentiment often dips during presidential campaigns as voters are 澳洲幸运5官方开奖结果体彩网:uncertain about the path of the eco🅘nomy, but consumers will often feel better about economic conditio😼ns once the election is decided. The survey showed that while feelings about current economic conditions dipped some in November, their expectations for future economic growth moved higher.

“Broadly, consu♚mers expect moderate improvement in the economy over the next six months, but there was a more nuanced shift in sentiment that tended to track with political affiliation and individual respondents’ view on the election’s outcome,” said Jim Baird, chief investment officer with Plante Moran Financial Advisors. 

Inflation Expectations Adjust Ahead of Trump's Tariff Proposals

The survey also showed a change in sentiment on inflation, which many economists think will move higher if Trump enacts the 澳洲幸运5官方开奖结果体彩网:tar𝔉iffs he proposed during the campaign. Federal Reserve officials 澳洲幸运5官方开奖结果体彩网:closely follow consumer inflation expectation🗹s 🥀as they c𝐆an help influence the path of prices. 

Year-ahead inflation expectation declined to 2.6%, down a tick from the prior month, but inflation expectations for five yea💃rs out increased to 3.2%, showing increasing uncertainty over lo♊ng-run prices. 

“While consumers recognize that inflation has receded significantly, there’s less certainty that the Fed’s ability to hold inflation near its 2% target over the long term,” Baird said.