Photo: Shoppers on 5th Avenue in New York. Shoppers on 5th Avenue in New York.

U.S. consumer sentiment continued to rise in late September, reaching a five-month high on more optimism about the economy in the wake of the Federal Reserve's interest rate cut.

The University of Michigan's final September sentiment index rose to 70.1, from the 69 preliminary reading released earlier this month. The latest figure issued Friday follows an August index of 67.9.

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