University of Michigan: Consumer sentiment up

The University of Michigan's end of the month report on consumer sentiment for September was said to have shown an increase to 85.4 from 82.0 in August, according to media reports Friday. Economists expected to see the index at 85.5. The data are better than the preliminary September consumer index, which was said to have risen to 84.4. The reading on the current conditions index for September was said to have shown a decrease to 96.6 from 103.8. The private research group said that consumers' expectation of inflation one year out fell to 3.1 percent from 3.8 percent. The five-year forecast pulled back to 3.0 percent, from 3.2 percent in August.