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
Please review Community Guidelines before posting a comment.
>> 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

Undocumented Immigrants Picket White House to Demand Voice

Monday, 28 Jul 2014 21:58 PM

Undocumented immigrants picketed the White House on Monday, urging advocacy groups to refuse meetings with President Bar . . .

US: Russia Violated 1987 Nuclear Missile Treaty

Monday, 28 Jul 2014 21:41 PM

In an escalation of tensions, the Obama administration accused Russia on Monday of conducting tests in violation of a 19 . . .

Doctor with Franklin Graham Charity Who Contracted Ebola in Grave Condition

Monday, 28 Jul 2014 19:36 PM

Kent Brantly always wanted to be a medical missionary, and he took the work seriously, spending months treating a steady . . .

Most Commented

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