U.S. consumer sentiment rises to best since 2004

U.S. consumer sentiment rose in January to its highest level in 11 years on better job and wage prospects, a survey released on Friday showed. The Thomson Reuters/University of Michigan's final January reading on the overall index on consumer sentiment came in at 98.1, its best showing on a final basis since January 2004 and the latest in a string of increases since August. "Consumers judged prospects for the national economy as the best in a decade, with half of all consumers expecting the economic expansion will continue for another five years," said Richard Curtin, the survey's director. "While renewed strength in consumer spending will boost the pace of economic growth in 2015, most consumers are counting only on modest income gains during the years ahead.

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