U.S. consumer sentiment surges in early December to nearly two-year high

U.S. consumer sentiment surged in early December boosted by a "surprise victory" of Trump in general election, according to a survey released on Friday.

The preliminary reading of the consumer sentiment for December rose from 93.8 in November to 98, the highest level in almost two years, said the Thomson Reuters/University of Michigan index of consumer sentiment on Friday.

"The surge was largely due to consumers' initial reactions to Trump's surprise victory," said survey director Richard Curtin.

"There were a few exceptions to the early December surge in optimism, mainly among those with a college degree and among residents of the Northeast, although no group has adopted a pessimistic outlook for the economy," said Curtin.

"President-elect Trump must provide early evidence of positive economic growth as well as act to keep positive consumer expectations," added Curtin.

The sub-index of current conditions, reflecting Americans' perceptions of their financial situation and whether they consider it a good time to buy big-ticket items like cars, rose to 112.1 from 107.3 last month.

The sub-index gauging consumer expectations for six months from now, which more closely projects the direction of consumer spending, increased to 88.9 from 85.2 in November. Enditem