"I think the election of Trump is very favorable for the consulting industry," Michael Mische, a management consultant, stated, attributing this to increased demand driven by proposed tariffs and tax cuts.
Mische explained that while there has been client need, many CEOs have hesitated to act due to a challenging macroeconomic environment, making the consulting industry particularly vulnerable.
"Our entire consulting industry - it's predicated on the fact that it's the discretionary item. It literally is the luxury item of the CEO," he remarked, emphasizing the non-essential nature of consulting.
Trump's election is likely to boost CEO sentiment, as noted by Mische, who mentioned that the stock market reacted positively to Trump's win, indicating increased confidence.
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