Consumer Sentiment Index Rises in September

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he University of Michigan said on Friday its index of consumer sentiment rose to 85.4 in September from 82 in August, its highest level in five months.

Preliminary estimates had shown the index at a level of 84.4 for September. Economists had expected an increase to 85, Bloomberg reported.

The index, which measures how consumers feel about the economy, gained on falling gasoline prices, which helped to soften the impact of a declining housing market, Bloomberg said.

The survey follows a report on Friday from the Department of Commerce that revealed personal spending rose 0.1% in August.