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Updated:
12/11/2009 10:40:00 AM
Consumer Confidence Improves in December
U.S. consumer confidence improved in December for the first time in three months, according to the Reuters/University of Michigan monthly consumer sentiment index released Friday.
The preliminary index for the month rose to a 73.4 reading from 67.4 in November, the survey said.
Economists had forecast the index to rise to a 68.8 reading, Bloomberg reported.
An improvement in confidence may increase consumer spending, which accounts for 70% of the economy.
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