Consumer Confidence SURGES To The Highest Level In A Year

U.S. Consumer Confidence surged higher in February, with the index measuring the key indicator up 280 basis points to 75.3, data from the University of Michigan and Thomson Reuters shows.

The reading marked the highest sentiment in a year, when it last crossed above the 75 mark in February 2011.

Economists polled by Bloomberg were expecting confidence to increase 50 basis points from a preliminary reading of 72.5. The range of expectations was between 71.0 and 76.0.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.