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Consumer sentiment (highest level in 12 years)
US Consumer sentiment (highest level in 12 years)
The final December (-2016) reading on consumer sentiment rose to 98.2 in December, up both from the preliminary reading of 98 earlier in the month of December and November's final reading of 93.8.
The December reading is the highest since January 2004. Analysts follow readings of confidence to look for clues about consumer spending, the backbone of the economy. "Ongoing solid readings on consumer confidence reinforce our view that GDP growth should remain firm in the near term, and we see the level of confidence as consistent with ongoing strength in consumer spending," said Blerina Uruci, economist at Barclays.
Consumer sentiment has risen 11 points over the past two months.
