Consumer Confidence Rises More Than Expected
New York, NY, Feb. 26, 2013 -- Consumer confidence accelerated more strongly than expected in February, according to the Conference Board.
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The industry group said its index of consumer attitudes rose to 69.6, from a downwardly revised 58.4 in January to the highest level since November.
January was originally reported as 58.6, the lowest level in more than a year.
"The shock effect caused by the fiscal cliff uncertainty and payroll tax cuts appears to have abated," Lynn Franco, director of The Conference Board Consumer Research Center, said in a press release.
The expectations index rose to 73.8, from 59.9.