U.S. consumer sentiment was stronger than expected in August, a report showed on Friday, though expectations of the future economic situation worsened.
The University of Michigan's final reading on consumer sentiment in August was 82.0, above an initial mid-month reading of 78.7 but still short of July's final reading of 84.7, said sources who saw the subscription-only report.
The median forecast of Wall Street economists polled by Reuters was for a reading of 79.5.
The survey's index of current conditions edged up to 103.8 from 103.5 in July, but consumer expectations slipped to 68.0 from 72.5.
Consumer spending accounts for about two-thirds of U.S. economic activity, but in recent years confidence measures have been a weak guide to actual spending.
Consumers' expectations for inflation over the next 12 months rose in August, according to the sources.
The University's August reading on one-year U.S. inflation expectations was 3.8 percent, from 3.2 percent in July.
