The University of Michigan Consumer Sentiment gauge, which tracks consumers’ views on personal finance and consumption, reached�74 in its preliminary reading for January, up from 69.9 in December, the highest level since May 2011.
Economists�polled by MarketWatch were expecting a reading of 73, given higher stock prices and improving employment trends, but the results still lag far behind pre-recessionary levels that averaged 87. The data serves as an indicator of consumer spending patterns.
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