Consumer sentiment hits 8-month high
A preliminary January reading of consumer sentiment rose to 74, the highest level of the Thomson Reuters/University of Michigan index since May.
The index reading released Friday also marks a 4.1-point jump from December and five months of increases after an August low of 55.7. It's down slightly, however, from a January 2011 reading of 74.2.
A rating of 100 reflects an exceptionally high level of consumer sentiment, benchmarked at the first quarter of 1966.
The index surveys 500 households each month on economic attitudes.
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