by Calculated Risk on 1/13/2012 09:55:00 AM

The preliminary January Reuters / University of Michigan consumer sentiment index increased to 74.0, up from the December reading of 69.9.


Click on graph for larger image.

Most of the recent sharp decline was event due to the debt ceiling debate, and sentiment has rebounded as expected. Now it is all about jobs, wages - and gasoline prices.

Sentiment is still fairly weak, although above the consensus forecast of 71.5.