NEW YORK (CNN/Money) - A closely watched measure of U.S. consumer confidence came in a bit worse in August than initially thought, according to published reports Friday, though a key measure of manufacturing activity in the Midwest region rose, topping most economists' forecasts.

The University of Michigan's consumer sentiment index for August was revised to 87.6 from an initial reading of 87.9, according to a Reuters report. The report is available only to paying subscribers.

Economists, on average, expected a revised University of Michigan sentiment reading of 88, compared with July's reading of 88.1, according to Briefing.com.

The university's current conditions index, which measures how consumers feel about the economy at present, was revised to 98.5 from an initial reading of 100.2, slightly higher than July's reading of 99.3. The expectations index, measuring how consumers feel about the future, was revised to 80.6 from 80, slightly lower than July's reading of 81.

Consumer spending is closely watched since it fuels about two-thirds of the world's largest economy. Earlier Friday, the Commerce Department said consumer spending rose 1.0 percent in July, though consumers' income was flat.

Separately, the National Association of Purchasing Management-Chicago said its index of regional manufacturing rose to 54.9 from 51.5 in July. It was the seventh straight reading above 50, pointing to an expanding regional manufacturing economy. A reading below 50 signals contraction.

Economists, on average, expected the Chicago PMI index to be 52, according to Briefing.com. The index began to show signs of improvement early this year, with February marking the first time in 18 months the index was above 50.

The employment component of the index fell to 44.6 from 48.1 in July. Prices paid fell to 63.6 from 64.5 in July.

The data follow a recent report from the Philadelphia Federal Reserve Bank that said manufacturing in the mid-Atlantic region shrank for the first time this year in July. Together, the Chicago and Philadelphia reports don't offer much of a clue about how the Institute for Supply Management's closely watched national manufacturing index, due out next Tuesday, performed in August.

The manufacturing sector suffered the most during a recession in the broader economy that began in March 2001, as businesses stopped spending on new equipment following the spending bubble of the late 1990s.

Friday's Chicago manufacturing data lifted U.S. stock prices, while Treasury bond prices fell.