Consumer Confidence: Chairman Arrington Statement on November Report

Consumer Confidence: Chairman Arrington Statement on November Report

WASHINGTON, D.C. - Today, The Conference Board released its report on the Consumer Confidence Index for November 2024. The report showed that overall consumer sentiment ticked up in November, showing that as a second Trump Presidency comes into focus, hope for the future rises.

Chairman Arrington on Consumer Confidence:

House Budget Committee Chairman Jodey Arrington (R-TX) released the following statement on Consumer Confidence for November:

"Americans' confidence in their economic future started turning around when it became evident that the unsustainable deficit spending and failed Biden-Harris policies would be replaced with a Trump economic agenda, and it continues to improve as we get closer to launching round two of a Republican-led surge in economic growth and opportunity."

The "Why":

According to the latest data from the University of Michigan, the share of consumers who expect no real income growth in the coming five years now stands at the highest on record.

However, President Trump's victory in the 2024 presidential election and his announcement of hedge fund manager Scott Bessent to lead the Treasury Department have sent stock market indices soaring as American consumers and investors have renewed faith in the future of America's economy.

More from the House Budget Committee:

Read Chairman Arrington's statement on President Trump's proposed Department of Government Efficiency HERE.

Read Chairman Arrington's statement on the Conference Board's Leading Economic Index (LEI) for September HERE.

Read Chairman Arrington's statement on the second anniversary of the Democrats' so-called 'Inflation Reduction Act' HERE.