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November 27, 2012 10:30 AM, EST
Consumer Confidence Rises to Four-Year High

Consumer confidence rose to a four-year high in November, the New York-based Conference Board said Tuesday.

The group’s monthly index rose to a reading of 73.7, the highest since February 2008, from 73.1 in October that was higher than originally reported.

Economists had forecast a reading of 73, Bloomberg reported.

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