U.S. consumer sentiment rose to its highest level in three months, as retailers discounted their products. Also, as low mortgage rates attracted American customers, who spent a larger chunk of their salaries.The preliminary reading of the consumer sentiment index climbed to 73.6 from a reading of 72.3 for the previous month. Analysts were expecting a much more modest increase to 72.4. U.S. citizens also grew more optimistic about the local economy, with the indicator of current economic conditions advancing to its highest level since January 2008 at 87.6 from 82.7. Consumers decided to spent more as prices remained relatively low, with the indicator of buying conditions for household durables climbing to 140 from 130. At the same time consumers’ outlook declined, with the expectations index dropping to 64.5 from 65.6, its lowest reading since December. Most households expected no increase in income for the next year, while one in every four people said that the unemployment rate will increase.
