Consumer Sentiment Rises in Late October

Ann Arbor, MI, Oct. 28, 2011 -- U.S. consumer sentiment improved in October, according to the Thomson Reuters/University of Michigan survey final October reading.

The sentiment index rose to 60.9 from 59.4 the month before, topping expectations for 58.0 among economists. The preliminary October survey had seen a decline to 57.5.

The survey's measure of consumer expectations also improved to 51.8 from 49.4 in September, while the gauge of current economic conditions was up at 75.1 from 74.9.

"Overall, it is still likely that real consumer expenditures will not be strong enough during the year ahead to enable the more robust economic growth that is needed to offset the negative grip of income and job stagnation on consumers' spending behavior," survey director Richard Curtin said in a press release.