New York, NY, United States (4E) – Sentiment by U.S. consumers surprisingly rose in August, higher than the preliminary reading, according to a report by University of Michigan and Thomson Reuters released Friday.
The consumer-sentiment index for the month of August was upwardly revised to a score of 82.5, compared with July’s final reading of 81.8.
Economists predicted the final reading for August’s sentiment index to be at 80.2, up from the preliminary score of 79.2.
The survey’s measure of present economic conditions jumped to 99.8 from 97.4, climbing to its highest level in over seven years.
The Conference Board said earlier in the week that its consumer confidence index reached its highest level since 2007. The measure increased to 92.4 in August, from July’s revised reading of 90.3.