NEW YORK: US consumer confidence rose in February to a three-year high amid improved optimism about the economy and income prospects, according to a private sector report released on Tuesday.
The Conference Board, an industry group, said its index of consumer attitudes rose to 70.4 in February from a revised 64.8 in January. It was the highest level since February 2008.
The median of forecasts from analysts polled by Reuters was for a reading of 65. Forecasts ranged from 60 to 70.
January was originally reported as 60.6. The Conference Board revised January's figure to 65.6 earlier in the month to reflect newly included data collected by the Nielsen Co that will now be part of the survey.
The expectations index rose to 95.1, its highest level since December 2006, from 87.3, while consumer expectations for inflation in the coming 12 months rose to 5.6 percent from 5.5 percent the month before. Inflation expectations were at their highest since June 2009.
The present situation index advanced to 33.4 from 31.1.
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