http://www.bloomberg.com/apps/news?pid=20601087&sid=a1G5PEIrwiww&refer=worldwide
Consumer confidence in the U.S. jumped more than forecast this month to the highest level in almost six years, suggesting the June slowdown in spending may be temporary.
The New York-based Conference Board's index of confidence soared to 112.6, from a revised 105.3 the prior month. Earlier today, the Commerce Department reported that consumer spending rose 0.1 percent in June, slowing from a 0.5 percent gain in May. A measure of inflation closely watched by the Federal Reserve eased.
Confidence among Americans, whose spending accounts for more than two-thirds of the economy, is being shored up by a jobless rate that's near the lowest in six years and income gains that have outpaced inflation.
2007-07-31
12:44:00
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