Consumer Sentiment Higher Than Expected

Ann Arbor, MI, March 1, 2013 -- The University of Michigan-Thomson Reuters consumer-sentiment index rose to a final February reading of 77.6 from a final January reading of 73.8.

It was the highest reading since November.

Economists had expected a final February reading of 76.4, compared with a preliminary estimate of 76.3.

Sentiment averaged about 87 in the year before the start of the most recent recession.