The University of Michigan-Thomson Reuters consumer-sentiment index rose to a preliminary August reading of 73.6 from a final July reading of 72.3, according to Friday reports. Economists polled by MarketWatch had expected the index to decline to 71.8 in August, due, in part, to ongoing economic uncertainty. The sentiment gauge, which covers how consumers view their personal finances as well as business and buying conditions, averaged about 87 in the year before the recession. Economists watch sentiment data to get a feel for the direction of consumer spending.
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