By Ruth Mantell
WASHINGTON (MarketWatch) -- A gauge of consumer sentiment reached 64.1 in the final reading for November -- the highest reading since June -- compared with 60.9 in October, according to Wednesday reports on the data from the University of Michigan and Thomson Reuters. A preliminary reading for November pegged the gauge at 64.2. Economists polled by MarketWatch had expected a final November result of 65, with consumers somewhat cheered by lower gas prices, but concerned about stock volatility. The sentiment gauge, which covers how consumers view their personal finances as well as business and buying conditions, averaged about 87 in the year before the start of the most recent recession. Economists watch sentiment data to get a feel for the direction of consumer spending. A separate report from the government on Wednesday showed that personal consumption spending slowed down in October.
