Simon Property Group (SPG) Proxy for Optimism?

Consumers are spending again, and look what’s nearly back to its 2007 high? Why it’s, Simon Property Group (NYSE:SPG) — a REIT of shopping malls. It even has its own iPhone app.

Simon Property Group-SPG

Gallup: Economic Optimism in U.S. Ties Three-Year High

The numbers on our chart above correspond to those on the one below from Gallup, which just reported optimism at a three-year high, noting, “Forty-one percent of Americans in January said the economy is “getting better,” up from 35% in December and 38% a year ago. This level of optimism ties for the highest since Gallup Daily tracking began in January 2008.”

Gallup Economy Is Getting Better January 2011

The question $64,000 question: Are consumers feeling optimistic because the market is up or is the market up because consumers feel optimistic?

Hat tip to TheReformedBroker.

MORE: Simon Property 4Q Profit More Than Doubles; Year EPS View Strong