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Consumer Confidence At 5-Year High

Consumer confidence climbed to the highest level in more than five years, according to The Conference Board. The sentiment index rose to 76.2 in May, the highest since February 2008, and up from a reading of 69.0 in April. “Back-to-back monthly gains suggest that consumer confidence is on the mend and may be regaining the traction it lost due to the fiscal cliff, payroll-tax hike, and sequester,” said Lynn Franco, director of economic indicators at the Conference Board.

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