ECON: Consumer Sentiment Lowest Since Late 2011
- Jan Preliminary Sentiment 71.3 vs 75.0 Consensus
- 'Current Conditions' 84.8 vs 88.0 consensus
- 'Expectations' 62.7 vs 65.2 consensus
- Sentiment lowest since Dec 2011
- 'Current Conditions' lowest since July 2012
- 'Expectations' lowest since Nov 2011
(Reuters) - Thomson Reuters/University of Michigan Surveys of Consumers' preliminary January consumer sentiment index fell to 71.3 from 72.9 in the final December report, according to a report released on Friday.
Economists in a Reuters survey expected a preliminary January sentiment index reading of 75.0.
Survey director Richard Curtin: "The most unique aspect of the early January data was that an all-time record number of consumers - 35 percent - negatively referred to the fiscal cliff negotiations. Importantly, the debt ceiling debate is still upcoming and could further weaken confidence."