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February 26, 2013 10:05 AM, EST
Consumer Confidence Rises for First Time in Four Months

Consumer confidence rose for the first time in four months in February, the New York-based Conference Board said Tuesday.

The group’s monthly index rose to a reading of 69.6 from a revised 58.4 in January, lower than originally reported.

Economists had forecast a reading of 62, Bloomberg News reported.

An improvement in confidence may increase consumer spending, which accounts for 70% of the economy.