According to the latest estimates, the consumer sentiment in the US rose slightly to 74.3 in the month of August 2012.

A study conducted by University of Michigan and Thomson Reuters about financial security and view of the U. S. economy of the consumers showed that the consumers in the US were more confident mainly because they were able to reduce debt.

The second and final reading of consumer sentiment in August is estimated at 74.3, which is higher than 73.6, which was estimated initially for August. Analysts were expecting the consumer sentiment to grow to 73.8 during the month, according to a poll conducted by MarketWatch.

The consumer sentiment in the US was at 72.3 during the month of July 2012. The estimation is a positive indication from the market after other similar indices indicated weak economic condition in the month.

The consumer-confidence index of the Conference Board, which is much widely accepted, showed a decline in the consumer confidence among US buyers during the month of August. The consumer-confidence index dropped to 60.6 during the month from 65.4 earlier. The data was released by the Conference Board on Tuesday.