WASHINGTON — Americans’ outlook on the economy improved modestly in November, lifted by expectations for lower inflation and more hiring.

The Conference Board, a business research group, said today that its consumer confidence index ticked up to 111.7 from 109.6 in October. The small increase followed a large gain in October.

The small increase comes after President-elect Donald Trump’s victory in the presidential election. The Conference Board doesn’t break out its responses by party, but another measure of consumer sentiment by the University of Michigan showed that optimism about the economy jumped among Republican after the election.

The proportion of Americans who anticipate a recession in the next 12 months fell to the lowest level since the group first began asking the question in July 2022.