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Consumer Sentiment Index Reaches Highest Level Since ’07 in December Reading

first_img Share Save The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Consumer sentiment gained another five points in an early December measure, putting confidence levels at a near eight-year high.The Thomson Reuters/University of Michigan survey of consumer sentiment came in at a preliminary index reading of 93.8 for December, up from November’s final reading of 88.8. December’s report beat economists’ forecasts by more than four points and puts the index at its highest level since January 2007.Increases in the latest measure were broad-based. The gauge measuring consumer expectations jumped 6.2 points to hit 86.1, also the highest since January 2007, while the measure of consumer economic sentiment was up three points to 105.7, the highest since February 2007.While the month’s final index—due December 23—could see an adjustment, the latest reading is a positive sign in the middle of the holiday shopping season.In a statement, survey director Richard Curtin noted that expected wage gains are at their highest level since 2008, and consumer attitudes toward buying are the most favorable they’ve been in several decades.”Obviously, lower gasoline prices, well received employment reports, and a more optimistic view on the direction of the economy are helping drive consumer mood higher,” said Chris Christopher, director of U.S. consumer economics for IHS Global Insight, in a note.Christopher also gave some of the credit to lawmakers, who in the past few years have stood in the way of growth over debates like 2012’s fiscal cliff and last year’s government shutdown. This year, they’re on track to avoid another shutdown with a last-minute deal.”The budget deal passing is another big plus for consumer mood since continued political bickering and finger pointing is a downer,” he said. December 15, 2014 1,124 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington’s student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News’ sister publication, MReport, which focuses on mortgage banking news. Tagged with: Consumer Confidence Consumer Sentiment Consumer Spending Politics Thompson Reuters Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / Consumer Sentiment Index Reaches Highest Level Since ’07 in December Readingcenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Consumer Sentiment Index Reaches Highest Level Since ’07 in December Reading  Print This Post Previous: Michigan Senate Passes Foreclosure Bill Aimed At Eliminating Blight Next: Florida Man Sentenced to Federal Prison Time for Fraud Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Consumer Confidence Consumer Sentiment Consumer Spending Politics Thompson Reuters 2014-12-15 Tory Barringer in Daily Dose, Featured, Market Studies, News About Author: Tory Barringer Subscribelast_img read more