NEW YORK - The University of Michigan's preliminary January consumer sentiment index reading was 74.0, compared to the final December 69.9, the preliminary December 67.7, and the final November 64.1, according to market sources.
The expectations index was 68.4, compared to 63.6 in December, 61.1 earlier in December, and 55.4 in November.
The current conditions index was 82.6, compared to 79.6 in December, 77.9 earlier in December, and 77.6 in November.
Economists polled by Thomson Reuters had predicted a 71.5 reading for the main index, 80.2 for current conditions and 65.0 for expectations.
The five-year inflation expectation index was 2.8% compared to 2.7% in December, and 2.7% in November, while the one-year inflation expectation index was 3.2%, compared to 3.1% in December, and 3.2% in November.
The University of Michigan index is not released to the press, but only to paying subscribers.
