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- Thomson Reuters/University of Michigan preliminary consumer sentiment index climbs to 91.8 in December
Thomson Reuters/University of Michigan preliminary consumer sentiment index climbs to 91.8 in December
The Thomson Reuters/University of Michigan preliminary consumer sentiment index climbed to 91.8 in December from a final reading of 91.3 in November, missing expectations for an increase to 92.0.
"While the preliminary December reading was largely unchanged from last month, consumers evaluated current economic conditions more favourably and expected future prospects less favourably," the Surveys of Consumers chief economist at the University of Michigan Richard Curtin said.
"Overall, the Sentiment Index has averaged 92.9 during 2015, the highest since 2004, with only 10 higher yearly averages in the past half century. The data continue to indicate that real consumer expenditures will grow by 2.8% in 2016 over 2015," he added.
The index of current economic conditions increased to 107.0 in December from 104.3 in November, while the index of consumer expectations fell to 82.0 from 82.9.
The one-year inflation expectations fell to 2.6% in December from 2.7% in November.
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