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ECON: Consumer Sentiment Stronger Than Expected
Posted to: Micro News
Friday, December 06, 2013 10:19 AM
- Sentiment 82.5 vs 76.0 forecast
- Current conditions 97.9 vs 90.0 forecast
- Both at highest levels since July
- Market Reaction: traders are probably discounting a lot of this positivity due to gas prices. Bond markets head-faked toward weaker territory but are now at better levels than those seen before the data.
(Reuters) - U.S. consumer sentiment surged in December as Americans' outlook on the economy and job prospects improved, a survey released on Friday showed.
The Thomson Reuters/University of Michigan's preliminary reading on the overall index on consumer sentiment jumped to 82.5 for December, up from a final reading of 75.1 in November. This was the highest reading for the index since July, and topped analyst forecasts for a reading of 76.
"All of the improvement was among households with incomes below $75,000, with upper income households showing no gain from last month’s reading," survey director Richard Curtin wrote in a statement.
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