ANN ARBOR, Mich. — US consumer sentiment climbed in May to 79.3 — the highest level since October 2007 — from 76.4 in April, a final reading of a survey by the University of Michigan/Thomson Reuters revealed Friday.

Economists polled by MarketWatch expected a final May reading of 77.8, matching the preliminary estimate.

The index averaged about 87 in the year before the most recent recession hit.

Opposing forces are impacting consumers — declining gas prices and slowing job gains.

The sentiment gauge, which covers how consumers view their personal finances as well as business and buying conditions, is used by economists to get a feel for the direction of consumer spending.

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