Consumer Confidence Improves in August

Consumer confidence improved this month, according to the latest Thomson Reuters/University of Michigan monthly consumer sentiment index released Friday.

The final index for the month rose to a 68.9 reading from 67.8 in July, which had been the lowest since November.

The preliminary reading two weeks ago was 69.6, which economists had predicted would be the final reading, Bloomberg reported.

An improvement in confidence may increase consumer spending, which accounts for 70% of the economy.