U.S. Consumer Sentiment Falls More Than Estimated on Outlook
This article is for subscribers only.
U.S. consumer sentiment fell by more than forecast in December on declining confidence among lower-income Americans, as a gauge of the outlook tumbled to a five-month low, a University of Michigan survey showed Friday.
The decline in the index may mar the picture of an economy that’s otherwise turning in a solid performance during the holiday season. Data released earlier on Friday showed consumer spending rose more than forecast in November and incomes advanced at a steady pace.