US consumer sentiment remains upward sloping

The measure of consumer sentiment reached 69.9 in December compared to 64.1 in November. Economists surveyed by Marketwatch earlier predicted the gauge to be at 67.7. Yelena Shulyatyeva, BNP Paribas economist, suggests that despite European debt crisis, positive news about national economy amid holiday cheer made consumers more optimistic in December. Nevertheless, Richard Curtin, sentiment survey's chief economist warns that Congress's inability to extend labour tax cut may push the sentiment down.