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Consumer Sentiment in U.S. Rose to Three-Month High

Consumer confidence improved more than projected in August as merchant discounts and record-low interest rates help U.S. households bolster finances.

The Thomson Reuters/University of Michigan final sentiment index climbed to 74.3, a three-month high, from 72.3 in July. The gauge averaged 89 in the five years leading up to the recession. Other reports indicated manufacturing is cooling.