Consumer sentiment "surged" to 93.8 for mid-month December reading

The Reuter's/University of Michigan's consumer sentiment index surged to 93.8 for the mid-month December reading versus an already strong 88.8 in final November and 89.4 in mid-month November. This was the strongest reading since January 2007. The current conditions component was up 3.0 points from final November to 105.7 in a gain that signals month-to-month strength in consumer activity in December. The expectations component, though lagging at 86.1, was up a very sharp 6.2 points to signal rising confidence in the outlook for income and jobs.