WASHINGTON -- The University of Michigan-Thomson Reuters gauge of consumer sentiment rose in early August, according to a report released Friday.

The preliminary reading was 73.6 -- the highest level since May -- compared with a final July reading of 72.3.

The 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.

First Published August 18, 2012, 4:00 a.m.