Americans the most optimistic about the economy since 2021, consumer sentiment shows

Dow Jones11-08

MW Americans the most optimistic about the economy since 2021, consumer sentiment shows

By Jeffry Bartash

Consumer sentiment index rises for fourth month in a row

Story developing. Stay tuned for updates here.

The numbers: Growing optimism about how the economy will perform in 2025 pushed a survey of consumer sentiment to a seven-month high shortly before the election of former President Donald Trump .

The first of two readings in November of consumer sentiment rose to 73.0 from 70.5 in the prior month, the University of Michigan said Friday. It was the strongest reading since April.

Optimism about the economy six months from now also rose to the highest level since the summer of 2021.

As the election approached, Republicans became more confident about the outcome while confidence among Democrats fell, the index showed late last month.

The latest survey was completed before the election night, however.

Market reaction: The Dow Jones Industrial Average DJIA and S&P 500 SPX rose in Friday trading. Stocks are at records highs and have surged in the wake of Trump's victory.

-Jeffry Bartash

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

November 08, 2024 10:15 ET (15:15 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Stay tuned for updates here. \n</p>\n<p>\n     The numbers: Growing optimism about how the economy will perform in 2025 pushed a survey of consumer sentiment to a seven-month high shortly before the election of former President Donald Trump . \n</p>\n<p>\n      The first of two readings in November of consumer sentiment rose to 73.0 from 70.5 in the prior month, the University of Michigan said Friday. It was the strongest reading since April. \n</p>\n<p>\n     Optimism about the economy six months from now also rose to the highest level since the summer of 2021. \n</p>\n<p>\n     As the election approached, Republicans became more confident about the outcome while confidence among Democrats fell, the index showed late last month. \n</p>\n<p>\n     The latest survey was completed before the election night, however. \n</p>\n<p>\n     Market reaction: The Dow Jones Industrial Average DJIA and S&amp;P 500 SPX  rose in Friday trading. 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