Consumer Confidence Surges in February

New York, NY, Feb. 28, 2012 -- Consumer confidence rose in February to the highest level in a year, according to the Conference Board.

The research organization's index increased more than forecast, to 70.8 from a revised 61.5 in January.

Economists predicted the gauge would climb to 63.

Declining layoffs, lower unemployment, and higher stock prices are supporting consumer sentiment and could spur more consumer spending.

Americans were more optimistic about job and income prospects in February.