Survey: Investors more optimistic about U.S. economy since 2016 election
Since the 2016 presidential election, a majority of investors have grown more confident in the U.S. economy, according to the quarterly UBS Investor Watch report.
The survey, released Tuesday, reports that 58% of investors believe the Trump administration will have a positive impact on the economy, up from 54% in December.
A little less than half of investors (47%) said they approved of the job the administration is doing. But break that down by political party, and there's a stark difference: 77% of Republican investors said they approved of the administration so far, while only 24% of Democrats gave that response.
Additionally, 61% of all investors said they wanted more stability from the White House and 48% said that, prior to investing, they want more clarity on the government's priorities.
The new numbers were released as President Trump prepared to announce his tax reform plans. According to the survey, 74% of investors want the administration to focus on tax reform next. But given the failure of the Obamacare replacement bill, 67% said they were less optimistic for any proposed tax reform plans.
"Investors continue to be positive on the economy's future, but continue to set the bar high for the administration based on promises made during the campaign," Sameer Aurora of UBS Wealth Management Americas, which released the report, said in a statement. "Though a number of investors have tempered their optimism as a result of the recent healthcare bill situation, with the right moves, many investors still believe the administration can achieve its goals and set the country on a path for growth."
The survey was conducted among 2,272 investors with at least $1 million in investable assets from March 28 to April 3.