Consumer Sentiment Highter Than Expected

Ann Arbor, MI, Aug. 30, 2013 -- Consumer sentiment fell in August from July's six-year high, according to the Thomson Reuters/University of Michigan survey.

The index on consumer sentiment declined to 82.1 in August from 85.1 in July, although it was higher than the mid-month reading of 80.0 and beat expectations for a final read of 80.5.

"Most of the late August gain was due to more favorable income expectations, with consumers expecting the largest income gains in nearly five years," survey director Richard Curtin said in a press release.

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