Consumer Sentiment Jumps to Highest Level in Four Months

Source: CNBC

U.S. consumer sentiment unexpectedly rose in early September to its highest level in four months as Americans were more upbeat about their economic and job prospects, a survey showed on Friday.

The Thomson Reuters/University of Michigan's preliminary September consumer sentiment index rose to 79.2 from 74.3 in August. That topped expectations for a decline to 74.0, according to a Reuters poll.

The gauge of consumer expectations climbed to 73.4 from 65.1, though the barometer of current economic conditions nudged down to 88.3 from 88.7. Both the sentiment and expectations measures were at their highest level since May.

Just 12 percent of those surveyed expected the unemployment rate to rise, down sharply from the 25 percent that anticipated an increase in August's survey. This month's proportion was the lowest recorded since 1966.

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