The University of Michigan Survey of Consumers showed lifting consumer sentiment for the third straight month Friday, signaling stronger public trust in the state of the economy.
According to the UM survey, the index of consumer sentiment increased by 0.6% from September.
The increase was spread unevenly across the political spectrum. Republican consumer sentiment increased ahead of the national election.
“Republicans, who believe that a Trump presidency would be better for the economy, rose 8% on growing confidence that their preferred candidate would be the next president,” the study summary said.
Democrats saw a 1% decline in sentiment, with independents gaining 4%.
