Consumer Sentiment Hits Year Low In January [View all]

[Purveyor]

Source: Reuters

NEW YORK | Fri Jan 18, 2013 9:58am EST

(Reuters) - U.S. consumer sentiment deteriorated for a second straight month to hit its lowest in over a year in January, with a record number of consumers citing the recent "fiscal cliff" debate in Washington, a survey released on Friday showed.

The Thomson Reuters/University of Michigan's preliminary reading on the overall index on consumer sentiment came in at 71.3, down from 72.9 the month before. The index was at its lowest since December 2011.

It was also below the median forecast of 75 among economists polled by Reuters.

"The most unique aspect of the early January data was that an all-time record number of consumers - 35 percent - negatively referred to the fiscal cliff negotiations," survey director Richard Curtin said in a statement.

Read more: http://www.reuters.com/article/2013/01/18/us-usa-economy-sentiment-idUSBRE90H0SW20130118