By Greg Robb
WASHINGTON (MarketWatch) -- A gauge of consumer sentiment reached 69.9 in the final reading for December compared with 64.1 in November, according to Thursday reports on the data from the University of Michigan and Thomson Reuters. This is the fourth consecutive monthly gain in the index. A preliminary reading for December pegged the gauge at 67.7. Economists polled by MarketWatch had expected a final December result of 68.7, with consumers somewhat cheered by declining retail gasoline prices and the large drop in initial jobless claims. 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.
