A gauge of consumer sentiment declined in January, hitting the lowest level since December 2011, according to a Friday report from the University of Michigan-Thomson Reuters.
The consumer-sentiment gauge declined to 71.3 in a preliminary January reading from a final December level of 72.9. Economists polled by MarketWatch had expected a preliminary January reading of 74.2, with concern lingering over remaining major fiscal issues, such as the debt ceiling.
January’s decline follows a plunge in December, when consumers were worried about the fiscal cliff. It can be tougher to rebuild that lost confidence.
News Tribune news services
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