Consumer Sentiment Rises to Highest Level in 8 Months

Friday, 13 Jan 2012 10:06 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

U.S. consumer sentiment continued to pick up steam in early January, rising to the highest level in eight months as Americans became more optimistic about job prospects, a survey released on Friday showed.

The Thomson Reuters/University of Michigan's preliminary reading on the overall index on consumer sentiment rose to 74.0 from 69.9 in December, making for the fifth month of gains and the highest level since May 2011.

The report topped expectations of 71.5 among economists polled by Reuters.

"More frequent mentions of rising employment lessened income uncertainty and prompted more favorable buying attitudes as well," survey director Richard Curtin said in a statement.

"The data suggest a stronger consumer spending outlook, rising to about a 2.1 percent gain in 2012."

The survey's barometer of current economic conditions rose to the highest level since February at 82.6 from 79.6, while the survey's gauge of consumer expectations gained to 68.4 from 63.6.

Thirty-four percent of consumers said they had heard of recent job gains, a record high in the survey's history and well above December's 21 percent.

But consumers still lacked confidence in government economic policies with the majority rating policies unfavorably for the sixth month in a row.

Americans also remained dour on their personal finances with just 24 percent expecting their finances to improve in January, slightly below 25 percent last month.

The survey's one-year inflation expectation edged up to 3.2 percent from 3.1 percent, while the survey's five-to-10-year inflation outlook also gained to 2.8 percent from 2.7 percent.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Kerry: US Working with Vatican Against Human Trafficking

Sunday, 20 Apr 2014 16:55 PM

The United States is working with the Vatican to fight human trafficking, Secretary of State John Kerry wrote in an op-e . . .

Ex-Justice Stevens: Founders Did Not Want Individual Right to Arms

Sunday, 20 Apr 2014 13:59 PM

Guns will likely never be banned in the United States, retired Supreme Court Justice John Paul Stevens says, even if the . . .

Cardinal Timothy Dolan: 'I Like Jeb Bush A Lot'

Sunday, 20 Apr 2014 13:48 PM

Cardinal Timothy Dolan, the Archbishop of New York, says he can't say whether he would vote for Republican Jeb Bush for  . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved