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Economic Preview: ‘Animal spirits’ aren’t firing up the economy just yet

Toyota
Businesspeople are all revved up — “animal spirits” — by a pro-business White House. But we’re still waiting for evidence.

There’s a lot of talk in the post-Obama era about a revival in “animal spirits” that will inspire businesses to invest more and send the economy into overdrive.

For now, it’s just hot air. So far there’s little evidence of an upsurge in spending.

Here’s what we do know. Executives at companies big and small are excited about a staunch pro-business White House that promises to do whatever it can to foster growth. Tax cuts? On deck. Fewer regulations? Already happening. More spending on public works? In the pipeline.

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