Consumer Sentiment Ahead of Expectations

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NEW YORK (TheStreet) -- The Thomson Reuters/University of Michigan final index of consumer sentiment for September came in ahead of expectations with a reading of 68.2, against the consensus of 67.

The final reading was higher than the preliminary estimate of 66.6 but was still down from the previous month's figure of 68.9.  

The improvement came from a more optimistic outlook from households with incomes less than $75,000, while upper income households were less positive in their outlook, owing to uncertainty over the extension of tax cuts, according to the survey.

Consumer ETFs were up following the report, with the SPDR Consumer Discretionary ETF (Stock Quote: XLY) rising 0.2% to $33.44 and the SPDR Retail ETF (Stock Quote: XRT) up 0.3% to $41.95.

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