Confidence in America
- Jan 19, 2017
By Peter G. Hall, Vice-President and Chief Economist, Export Development Canada
One day until inauguration, and the world is watching the US President-elect with bated breath. To say that world confidence in America has taken a bit of a hit in the last year is likely an understatement. Moreover, in the 'grey zone' between the end of the election and Day 1 of the presidency, that confidence has likely drifted lower. But confidence within America could hardly be more different. Indicators show a post election surge in the 'feel-good' factor south of the border that really seems to defy belief. What is going on down there?
Well first off, if the rest of us are all feeling the opposite, why do we care? Precisely because consumers and businesses that are upbeat tend to spend and invest a lot more than when they’re gloomy. And stateside, we're talking about consumers that make up almost 70 per cent of the world’s largest economy, directly accounting for 12-13 cents of every dollar spent worldwide.
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