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Post by bot on Jul 29, 2014 17:48:43 GMT -5
WASHINGTON (MarketWatch) - The U.S. consumer confidence index jumped to 90.9 in July, marking the highest level in seven years, from a revised 86.4 in June, the Conference Board said Tuesday. Economists polled by MarketWatch had expected the index to slip to 85.0. In July, the present situation index, a measure of current conditions, rose to 88.3 from 86.3. The future expectations index climbexc to 92.7 from 86.4. "Strong job growth helped boost consumers' assessment of current conditions, while brighter short-term outlooks for the economy and jobs, and to a lesser extent personal income, drove the gain in expectations," said Lynn Franco, director of economic indicators at the board. "Recent improvements in consumer confidence, in particular expectations, suggest the recent strengthening in growth is likely to continue into the second half of this year."
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