Consumer Sentiment Inches Higher in December

Ann Arbor, MI, Jan. 18, 2010--Consumer sentiment edged higher in late December, according to the Reuters/University of Michigan index.

Sentiment inched up to 72.8 from 72.5, and was the highest reading since September.

Nevetheless, it's still weak by historical standards.

Economists had been expecting a reading of about 75.0.

Economists expect U.S. gross domestic product to grow at a 5.1% rate in the fourth quarter of 2009, in what would be the strongest performance seen in three years.

Much of this expected increase will come from government stimulus and a pickup in inventories.

In January, the current-conditions index rose to 81 from 78 in the previous month, the Reuters/University of Michigan survey indicated. This is the highest level since March.

The expectations index fell, however, dropping to 67.5 from 68.9. The expectations index is one of 10 leading economic indicators.


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