Investing.com – U.S. consumer sentiment fell more than expected in December, according to a report published on Friday.
The data from the University of Michigan's Consumer Survey Center showed that consumer sentiment ticked down to 95.9, compared to 96.8 in November.
Analysts had forecast a smaller increase to 97.1.
The current conditions index was slipped more than expected to 113.8 from the prior 115.9. Analysts had expected it to rise to 116.0.
The survey center’s chief economist Richard Curtin noted that while consumer sentiment was lower, the average of 2017 was still the highest since 2000.
"The recent strength was due to the second highest assessments of current economic conditions since 2000," he said. "This strength was offset by a slight increase in uncertainty about future economic prospects. Tax reform was spontaneously mentioned by 29% of all respondents, with nearly an equal split between positive and negative impacts on economic prospects.
The consumer expectations component edged down to to 84.3 from 84.6 Economists had forecast it to tick up to 85.0
Meanwhile, inflation expectations for the next 12 months decreased to 2.7%, from the prior 2.8%, while the five-year inflation expectations also moved lower to 2.4%, from 2.5%.
Following the release, EUR/USD was trading at 1.1846 from around 1.1849 ahead of the release of the data, GBP/USD was at 1.3369 from 1.3370 earlier, while USD/JPY was trading at 113.42 from 113.36 previously.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 93.00, compared to 92.99 ahead of the report.