Positive feelings about the U.S. economy among the top executives of the nation’s leading firms jumped in the first quarter by the most since 2009 when the economy was emerging from the last recession, according to Bloomberg News Service.
“The Business Roundtable’s CEO Economic Outlook Index — a measure of expectations for revenue, capital spending and employment — jumped 19.1 points to 93.3, according to the group’s survey released Tuesday. The increase, the biggest since the final three months of 2009, left the gauge above its long-run average of 79.8 for the first time in seven quarters. Readings above 50 indicate economic expansion.
“The survey is yet another in a series of confidence measures that have shown sizable upswings among businesses and consumers following Donald Trump’s victory in the November presidential election. While companies have said they’re encouraged by his plans to cut corporate taxes, reduce regulations and invest in infrastructure, the real test for the economy is whether they follow through with more capital spending and hiring,” Bloomberg reported.
Perhaps reflecting this optimism the stock market has advanced more than 12 percent, depending on which index you use, since the election and investors have enjoyed an increase of more than $3.0 trillion.
You might be asking why we aren’t hearing more about this from the mainstream media. And you would be justified in asking.