Consumer Sentiment Index Rebounds in July

U.S. consumer confidence this month rose from a reading that was close to a 28-year low, according to the Reuters/University of Michigan monthly consumer sentiment index released Friday.

The index’s final reading for July was to 61.2, up from an estimate of 56.4 that was issued earlier this month, the survey said.

Economists had expected the index’s final reading to remain at of 56.4, Bloomberg reported. The measure averaged 85.6 in 2007.