Consumer Confidence in U.S. Increases More Than Forecast
Confidence among U.S. consumers jumped more than forecast in February as Americans adjusted to a higher payroll tax and signs of a recovering housing market spurred faith in the future.
The Conference Board's index climbed to 69.6, exceeding all forecasts, from a revised 58.4 in January, data from the New York-based private research group showed today. It was the first improvement in four months and the biggest since November 2011.
The gain in sentiment from the lowest level in more than a year signals Americans are beginning to cope with the increase in the payroll tax and higher gasoline prices.