ANN ARBOR, Mich. — Americans continue to feel better about the economy.

What You Need To Know

  • Consumer sentiment inched up for the fourth consecutive month in November, according to the latest consumer survey from the University of Michigan

  • Sentiment is at its highest level since April 2024

  • Following Donald Trump's election win, Republicans are feeling most positively about the economy and Democrats are feeling more pessimistic

  • Overall, consumer sentiment is 40% higher than it was in June 2022, when inflation peaked at 9.1%

Consumer sentiment inched up for the fourth consecutive month in November, reaching its highest level since April 2024, according to the latest consumer survey from the University of Michigan. 

“All year, consumers have repeatedly told us that the trajectory of the economy hinges on who becomes the next president,” University of Michigan Surveys of Consumers Chief Economist Joanne Hsu said in a statement. “Given the tightness of the race in its final weeks, consumers were fully aware that the result could go either way. Thus, the election had little immediate impact on the overall trajectory of sentiment.”

Following Donald Trump’s election win, Republicans are feeling more positively about the economy, while Democratics are more pessimistic. Overall, consumer sentiment is 40% higher than it was in June 2022, when inflation peaked at 9.1%. Sentiment remains below pre-pandemic levels, however.

In November, more consumers said they felt good about their personal finances and expected more income gains in the coming year. Still, 44% of those surveyed said high prices are eroding their standard of living.