UMich sentiment rises to 75.3 in February

WASHINGTON (MarketWatch)
Consumer sentiment rose to 75.3 in February - the highest reading in a year - from 75 in January, according to Friday reports on the gauge from the University of Michigan/Thomson Reuters
A preliminary reading for February pegged sentiment at 72.5
Economists polled by MarketWatch had expected a final February reading of 73
The sentiment gauge, which covers how consumers view their personal finances as well as business and buying conditions, averaged about 87 in the year before the start of the most recent recession
Economists watch sentiment data to get a feel for the direction of consumer spending.