Consumer Sentiment Rises In August, Ignores Economy Jitters

[Purveyor]

Source: REUTERS

U.S. consumer sentiment rose in August, while an index of current economic conditions hit its highest since July 2007, a survey released on Friday showed.

The Thomson Reuters/University of Michigan's final August reading on the overall index on consumer sentiment came in at 82.5, up from 81.8 the month before. It was above the the median forecast of 80.1 among economists polled by Reuters.

"Consumer confidence rebounded in late August due to a positive reassessment of prospects for the national economy,'' survey director Richard Curtin said in a statement.

"A weakened trend in equity and home prices in the absence of resurgent wages would threaten the modest pace of consumer spending that is now expected.''

Read more: http://www.cnbc.com/id/101957716#.