Do Election Years Spur Industry Growth? U.S. Presidential Terms (1997 to 2016) Consumer Confidence Index (1985 = 100) Average Monthly

June 17, 2016  by in General   

This is the second factoid in a series of five factoids exploring the possible connection between election years and a healthy economy. Looking back over the past 20 years and the elections those years encompassed yields interesting results. With the exception of the Great Recession in 2008, a possible heightened sense of confidence and hope for the future during election years may partly be responsible for higher furniture sales growth, consumer confidence, gross domestic product and lower unemployment rates.

Consumer Confidence was highest during the Clinton years – topping out at 139 during his last year in office (an election year). Taking a big dip post 9/11, Consumer Confidence dropped to 80 in 2003 before climbing back up to 96 during George W. Bush’s last year of his final term. During the Great Recession, Consumer Confidence hit its lowest at 45 during Barack Obama’s first term but grew 22 percentage points to 67 in the Election Year of 2012. Consumer Confidence has continued to grow over Barack Obama’s second term, but at 95 in March 2016, it is still below the 1985 base of 100. Up next, election years and gross domestic product gains.

Source: Conference Board