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Updated:
6/12/2009 10:30:00 AM
Consumer Confidence Improves
U.S. consumer confidence rose this month for the fourth consecutive time, according to the Reuters/University of Michigan monthly consumer sentiment index released Friday.
The preliminary index for June rose to a reading of 69, from 68.7 last month. It is the highest level in nine months.
Economists had forecast a reading of 69.5, Reuters reported.
An improvement in confidence may increase consumer spending, which accounts for 70% of the economy.
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