Texas companies saw an increase in consumer spending over the month of December.
As The Dallas Morning News reports,economists are attributing the uptick to what they’re calling a “Trump bump.”
They say consumers are relieved that the election has ended, and they’re opening their wallets as a result. Many Texans also feel confident in how President-Elect Donald Trump will handle the economy.
Some business executives believe the Trump administration will have a more business-friendly tax policy, resulting in higher revenues. However, Democratic leaders have noted that the economy has been growing steadily for years. They claim this new surge is simply a capstone on a successful Obama economic policy.
Retail sales were the strongest the state has seen in some time, with online says hitting their highest point since March of 2011.