U.S. Consumer Sentiment Unexpectedly Rose in August

Confidence among U.S. consumers unexpectedly improved in August, boosting the prospect of stronger household spending this quarter.

The Thomson Reuters/University of Michigan preliminary August index of consumer sentiment increased to 73.6, the highest level since May, from 72.3 the prior month. The gauge was projected to be little changed at 72.2, according to the median forecast of 72 economists surveyed by Bloomberg.