Published: 9/1/2012

Consumer sentiment revised upward

BLADE STAFF AND NEWS SERVICES

WASHINGTON -- The University of Michigan-Thomson Reuters' second and final reading of consumer sentiment in August rose to 74.3 from the initial estimate of 73.6, according to a report issued Friday.

The report cited Americans having made headway in cutting their debt as the reason for the gain.

The better-known consumer-confidence index, produced by the Conference Board and released Tuesday, dropped to 60.6 from 65.4, reaching its lowest since November. Although the two indexes tend to track together over time, they sometimes diverge in the short term because they take different approaches to measurements.

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