Republicans have become much more confident in the US economy since the election of President Donald Trump. And a new poll shows Trump’s win may have even changed the way they see the past.
The poll, from the Milwaukee Journal-Sentinel showed that by 54 percentage points, GOP voters in Wisconsin believed the economy has gotten “better” over the last 12 months. When asked in October, GOP voters were 28 points more likely to believe it had gotten “worse” over the past 12 months.
The findings aligned with a recent Pew Research Center poll that showed the percentage of Republicans that viewed the economy as in good standing jumped from 31% in early 2016 to 61% in March.
Nothing materially has changed in the US economy since October. Job gains are still solid but not spectacular, wage growth has remained subdued, and industrial production has improved but not by a large margin.
In fact, by most measures, there has been a bit of a lull in economic activity. Core consumer price index inflation showed its first decline since January 2010, retail sales have slipped the past two months, and a variety of “hard data” points have slumped. The consensus for first quarter GDP is below 1% annualized and the Atlanta Fed GDP Now tracker has it pegged at just 0.5%, the lowest in nearly two years.
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