Consumer Sentiment At Three-Month High In August [View all]
NEW YORK | Fri Aug 17, 2012 10:54am EDT
(Reuters) - Consumer sentiment improved in early August to its highest in three months as sales at retailers and low mortgage rates spurred Americans to boost their buying plans, a survey released on Friday showed.
But concerns about rising food prices caused a jump in both short- and long-term inflation expectations, the Thomson Reuters/University of Michigan consumer sentiment survey showed.
The preliminary reading on the index on consumer sentiment rose to its highest level since May at 73.6 from 72.3 last month, topping economists' forecasts for a slight uptick to 72.4.
Americans were also more optimistic about the state of the economy with the measure of current economic conditions rising to its highest level since January 2008 at 87.6 from 82.7.