Ann Arbor, MI, December 10-- The University of Michigan's preliminary sentiment index rose to 95.7 from 92.8 in November. Economists were expecting the index to rise to 93.5.
The preliminary reading is based on phone interviews with about 250 households. A final result, based on about 500 interviews, will be released Dec. 23.
The University's current-conditions index, which reflects Americans' perception of their financial situation and whether it's a good time to buy big-ticket items, rose to 106.8 from 104.7 in November.
The expectations index, based on optimism about the next one to five years, rose to 88.8 from 85.2 last month.
The university's confidence gauge remains below the three-year high of 103.8 reached in January. It has averaged 90.6 since the recession ended in November 2001.
