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December 21, 2012 10:10 AM, EST
Consumer Confidence Falls to Five-Month Low

Consumer confidence fell to a five-month low in December, according to the Thomson Reuters/University of Michigan consumer sentiment index released Friday.

The month’s final index fell to a reading of 72.9, the lowest since July, from 82.7 in November.

It was down from a preliminary reading for the month of 74.5.

Economists had forecast the index would rise to 75, Bloomberg reported.

The survey’s index of current conditions asks Americans if they are better off than they were a year ago and if it is a good time to buy big-ticket items.