NEW YORK - The University of Michigan's preliminary January consumer sentiment index reading was 72.7, compared to the final December 74.5, and the preliminary December 74.2 reading, according to market sources.
Economists polled by Thomson Reuters had predicted a 75.4 reading for the index.
The expectations index was 68.2, compared to 67.5 in December, 66.8 earlier in December, and 64.8 in November.
The current conditions index was 79.8, compared to 85.3 in December, 85.7 and earlier in December.
The five-year inflation expectation index was 2.8%, compared to 2.8% in December, 2.7% earlier in December, and 2.8% in November, while the one-year inflation expectation index was 3.3%, compared to 3.0% in December, and 2.9% earlier in December.
The University of Michigan index is not released to the press, but only to paying subscribers.
