U.S. consumer sentiment weakened in August from last month's six-year high, though Americans were slightly more optimistic in their outlook than earlier in the month, the University of Michigan reported Friday. The university's final reading on August consumer sentiment fell to 82.1 from 85.1 in July. The result was better than a mid-month reading of 80.9 and was above economist expectations. "Most of the late-August gain was due to more favorable income expectations, with consumers expecting the largest income gains in nearly five years, although the median expected increase was just 0.9 percent, less than the expected rate of inflation," survey director Richard Curtin said in a statement. The survey's index of consumer expectations fell to 73.7 in August from 76.5 the previous month. The gauge of current economic conditions fell to 95.2 this month from 98.6 in July. Economists closely watch consumer-confidence indexes for clues on consumer spending, which accounts for 70 percent of U.S. economic activity. Earlier Friday, the government reported that consumer spending rose only 0.1 percent in July.