United States: Consumer confidence hits a three-year high
February 25, 2011
The Reuters/University of Michigan index of consumer sentiment jumped from 74.2 points in January to 77.5 points in February. On the back of the February increase, confidence is at the highest level since January 2008. Consumer sentiment improved notably in February as respondents are increasingly upbeat regarding the job market in 2011. According to the chief economist of the survey, Richard Curtin, ?these developments are likely to draw more discouraged workers back into the labour force?. The improvement in expectations was enough to more than offset concerns about rising food prices.