The University of Michigan's preliminary January consumer sentiment index reading was 94.4, compared to the final December 95.9 and the preliminary December 96.8, according to market sources.

The Institute for Social Research at the University of Michigan, which releases the consumer sentiment report.
The Institute for Social Research at the University of Michigan, which releases the consumer sentiment report. Bloomberg News

The expectations index was 84.8, compared to the final December 84.3 and the preliminary December 84.6.

The current conditions index was 109.2, compared to the final December 113.8 and the preliminary December 115.9.

Economists polled by IFR Markets had predicted a 97.0 reading for the main index.

The five-year inflation expectation index was 2.5%, compared to 2.4% in December, while the one-year inflation expectation index was 2.8%, compared to 2.7% in December.

The University of Michigan index is not released to the press, but only to paying subscribers.

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