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Tuesday, July 31, 2007

U.S. Consumer Confidence Index Climbs More Than Forecast

" Consumer confidence in the U.S. climbed more than forecast in July to the highest in almost six years, spurred by job and income growth and lower gasoline prices.

The New York-based Conference Board's index of consumer confidence rose to 112.6 in July from a revised 105.3 the prior month. The index averaged 105.9 in 2006.

Robust confidence would help consumer spending, which accounts for more than two-thirds of the economy, pick up from a second-quarter slump. Greater job stability, cheaper gasoline and rising stock prices through most of the month outweighed concerns about falling home values. "


Source: U.S. Consumer Confidence Index Climbs More Than Forecast (http://www.bloomberg.com/apps/news?pid=20601087&sid=aeZ2P2C0bjwM&refer=home)