U. Michigan Consumer Confidence Surges To 75.0

Photo: Arty Smokes (deaf mute)

The University of Michigan/Thomson Reuters final consumer confidence index surged to 75.0 for January, the best reading since May 2011.Economists polled by Bloomberg had forecast the headline number would be flat at 74, after a preliminary reading came in at 74 on January 13.

The beat represents a strong gain against the 69.9 reading in December, and was near the high end of all economist predictions, which ranged from 72.5 to 76.0. 

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