UMich sentiment jumps up in November
Nov. 9, 2012, 9:59 a.m. EST
WASHINGTON (MarketWatch) -- The preliminary reading of the University of Michigan/Thomson Reuters consumer-sentiment index rose to 84.9 in November - the highest reading since July 2007 -- from a final October reading of 82.6, according to reports on the data released Friday. Economists polled by MarketWatch expected a decline to 81.5, with concerns about Hurricane Sandy and the fiscal cliff outweighing positive jobs and housing data and lower gas prices. The sentiment gauge, which covers how consumers view their personal finances as well as business and buying conditions, averaged about 87 in the year before the most recent recession. Economists watch sentiment data to get a feel for the direction of consumer spending, which constitutes the largest portion of the economy.
http://www.marketwatch.com/story/umich-sentiment-jumps-up-in-november-2012-11-09
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