Consumer Sentiment Edges Higher in August

Ann Arbor, MI, Aug. 13, 2010--U.S. consumer sentiment edged up in early August from July and was a little above expectations, according to the Reuters/University of Michigan's Surveys of Consumers.

The slight pickup in sentiment followed a drop in July to the lowest level since November.

The survey's preliminary August reading rose to 69.6 from 67.8 in July, above the median forecast of 69.3 among economists.

"The gain was too small to represent a meaningful improvement," Richard Curtin, director of the surveys, said in a press release. "Consumers have increasingly come to expect lackluster income and job growth for an extended period of time."