UPDATE 1-US end-Sept consumer sentiment same as Aug -U.Mich

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NEW YORK, Sept 28 (Reuters) - U.S. consumer sentiment was unchanged in late September from August as shifts in outlook among different age, economic and geographic groups across the country offset each other, a survey showed on Friday.

The Reuters/University of Michigan Surveys of Consumers said its final September figure on consumer sentiment was 83.4, below a median forecast of 84.0 and the preliminary Sept reading of 83.8 but unchanged from the final August figure.

The Reuters/University of Michigan consumer index read 85.4 in September 2006.

Consumer sentiment has been seen as a proxy on future consumer spending, which accounts for two-thirds of the U.S. economy.

"Consumers quickly tempered their reactions to the crisis in financial markets, avoiding a freefall in confidence, but have become more concerned with slumping house prices," the report said.

The data indicates that without a new shock to the economy, the pace of growth in real personal consumption can be expected to slow, to average about 2 percent over the next four quarters with some weaker quarters around the turn of the year, the report said.

Yet, while the probability of a recession has risen, it is still well below 50 percent, the report said.

The survey's gauge of current consumer conditions was 97.9 in late September, below the preliminary September reading of 98.3 and a final August reading of 98.4. The current reading is the lowest since Sept 2006.