Trump’s sagging poll numbers overshadow view on US economy

on Apr25

Source: Washington Post-ABC News poll

This optimistic view of the economy, though, seems divided along party lines.

The gap between Democrats and Republicans’ economic views — as tracked by the Bloomberg Consumer Comfort Index — has increased to its widest level since early 2009, according to a recent global macroeconomic research note from Goldman Sachs.

“The correlation between economic sentiment and political affiliation is … visible in regional data,” Goldman said in the report to its clients.

“The regions that voted strongly for Trump are the regions that are most optimistic about the future. … The regions that voted for Trump are [also] the regions that have the lowest assessment of current conditions.”

Further, “many investors believe that the rally in U.S. sentiment (and asset markets) reflects post-election expectations of tax cuts, infrastructure and defense spending, and deregulation,” the Goldman note added.

Trump said he will make a “big announcement” on Wednesday related to tax reform, something Wall Street is monitoring closely.

The Post-ABC poll was conducted from April 17 to 20 among a random national sample of 1,004 adults interviewed on cellular and landline phones. Overall results have a margin of sampling error of plus or minus 3.5 percentage points.

Read all the results from the Washington Post-ABC News poll.

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