<p>Consumer confidence has risen to the highest level in nearly a decade, a psychological indicator that Americans have high hopes for Trump&rsquo;s presidency. As reported by the Conference Board on Tuesday, the confidence index jumped from 98.6 in October to 107.1 in October. ;</p>
<p>Most survey results were gathered before the election, but as Conference Board economist Lynn Franco explains, &ldquo;It appears from the small sample of post-election responses that consumers&rsquo; optimism was not impacted by the outcome.&rdquo; ;</p>
<p>We haven&rsquo;t seen numbers like this since July 2007, and the fact that consumers were unbothered by Trump&rsquo;s victory suggests that America does not believe his administration will harm the economy.</p>
<p>The survey, which measures confidence towards business conditions, jobs, and personal finances, also suggests that Americans have an optimistic outlook regarding the next six months. ;</p>
<p>&ldquo;The election result has had a clear positive impact on sentiment,&rdquo; writes Capital Economics&rsquo; Andrew Hunter. &ldquo;It also supports our view that consumer spending will continue to rise at a decent pace over the rest of the year.&rdquo; ;</p>
<p>Consumer spending drives economic growth, which is why the Conference Board monitors things like &ldquo;consumer confidence.&rdquo; In fact, this spending accounts for nearly 70% of US economic output. ;</p>
<p>Americans are not wrong to put their faith in the economy. According to government data, the economy grew ;at a 3.2% annual rate from July to September &ndash; the fastest pace we&#8217;ve seen in two years. Consumer spending increased at a 2.8% annual rate during the third quarter, squashing estimates of 2.1%, and the unemployment rate has dropped to 4.9% &#8211; a figure considered by economists to be &ldquo;full employment.&rdquo; ;</p>
<p><strong>Stock Market Rally ;</strong></p>
<p>Wall Street has also benefitted from Trump&rsquo;s victory, with the S&;P 500, the Dow, and the Nasdaq reaching all-time highs this week. ;</p>
<p>Far from rumors that the stock market would crash should the real estate mogul win the White House, investors are now hoping that Trump &ldquo;will unleash the US economy by cutting taxes, rolling back regulation, and ramping up infrastructure spending,&rdquo; reports CNN Money. ;</p>
<p>&ldquo;The basis for the rally is optimism about reversing Obama-nomics &ndash; raising taxes and increasing regulation,&rdquo; explains market analyst Peter Boockvar. ;</p>
<p><strong>Editor&#8217;s note:</strong> Despite the protests and whining from Clinton supporters, America is actually a lot more confident now that Trump is President-elect. Perhaps we are realizing how bad Obama has been.</p>