Consumer Confidence Hits Six-Month High

Consumer confidence rose to a six-month high this month, according to the final monthly Thomson Reuters/University of Michigan consumer sentiment index released Thursday.

The index rose to a reading of 74.5, from 71.6 in November. It matched forecasts from economists, Bloomberg reported.

It is slightly higher than the preliminary index of 74.2 released earlier this month. An improvement in confidence may increase consumer spending, which accounts for 70% of the economy.