A gauge of consumer sentiment has risen this month on rosier views of current economic conditions, according to an index compiled by the University of Michigan and Thomson Reuters, MarketWatch reported. The sentiment index increased to 73.6 — the highest level since May — from a final July reading of 72.3. Economists polled by MarketWatch had expected the index to decline to 71.8 in August. The sentiment gauge, which covers how consumers view their personal finances as well as business and buying conditions, averaged about 87 in the year before the recession. Economists watch sentiment data to get a feel for the direction of consumer spending.