Consumer Confidence Rises Unexpectedly in July

New York, NY, July 31, 2012 -- U.S. consumer confidence rose unexpectedly for the first time in five months, according to the Conference Board.

The Conference Board’s index increased to 65.9 this month from 62.7 in June.

Economists expected a reading of 61.5.

The index rose as consumers said they anticipated better labor and economic conditions in six months, driven in part by an improving housing market and lower gasoline prices.