US consumer confidence continues to rise


BLOOMBERG: The Conference Board’s index hit its highest level since August 2007 in January.

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BLOOMBERG: The Conference Board’s index hit its highest level since August 2007 in January.

Plummeting gasoline prices and a labor market that delivered almost 3 million jobs in 2014 and drove the unemployment rate to a six-year low are boosting sentiment about the domestic economy. Growing confidence raises the odds that consumer spending will power the world’s largest economy past a global slowdown.

“A more positive assessment of current business and labor-market conditions contributed to the improvement in consumers’ view of the present situation,” Lynn Franco, director of economic indicators at the Conference Board, said in a statement.

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