MW: December consumer sentiment improves on price relief
Consumer sentiment for December improved to a reading of 60.1, according to a survey released Tuesday by the University of Michigan and Reuters. That's better than a preliminary reading of 59.1 released earlier this month and beat economists' forecasts of 58.5. It also marked a sharp improvement from November, when consumer's outlook hit a 28-year low. Consumers reported that lower prices provided some needed relief, but continued job losses as well as income declines kept them pessimistic about their future economic prospects, the survey said.
