Consumer sentiment climbed to a three-month high in August as households made progress paying down debt, but future expectations remained grim, a survey on Friday showed.
The Thomson Reuters/University of Michigan's final reading on overall consumer sentiment this month rose to 74.3, its highest since May and above economists' expectations of 73.6. In July, the number stood at 72.3.
Buying was bolstered by price discounts and low interest rates, the survey found. But the biggest source of optimism was tied to success in trimming debt.
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