American consumers felt more confident about the economy this month, according to one survey.
The Thomson Reuters/University of Michigan index of consumer sentiment rose from 72.3 in July, to 74.3 in August.
That marked the index’s highest reading in three months and topped the reading of 73.6 predicted by economists, Bloomberg noted.
While the index has recovered somewhat from its average 64.2 reading during the recent recession, it remains far below the average reading of 89 recorded between 2002 and 2007.
The index of current conditions rose from 82.7 in July, to 88.7 last month, suggesting that consumers are more willing to make large purchases right now.
However, the index charting consumer economic expectations for the next six months fell from 65.6 in July, to 65.1 in August.
The improved reading for the Thomson Reuters/University of Michigan index stands in marked contrast to the Conference Board’s consumer confidence index, which dropped in August, falling to a reading of 60.6, down from 65.4 in July.
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