American companies are feeling confident again. Now it's up toPresident-elect Donald Trump and Congress to get them spendingagain.
Sentiment from small firms to large manufacturers has rocketedto lofty heights since Trump was elected, mirroring brighterattitudes among consumers. But the true test for the economy liesin the details and how quickly plans for deregulation, tax reformand infrastructure outlays come to fruition — and translate thatconfidence into investment.
The latest indicator, the National Federation of IndependentBusiness's small-business confidence index, surged in December tothe highest level since 2004. Manufacturers and service providersin the Institute for Supply Management's semi-annual forecast alsowere upbeat about 2017. And consumer sentiment is the strongestsince 2004.
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