Consumer Sentiment Index Rises After 28-Year Low

U.S. consumer confidence improved this month after last month's 28-year low, according to the Reuters/University of Michigan’s preliminary monthly consumer sentiment index, released Friday.

The preliminary December index rose to 59.1, from 55.3 last month, the survey said.

Economists had expected the reading to fall to 54.5, Bloomberg reported. The sentiment index averaged 85.6 last year.

The index will be revised for its final figure at the end of the month.