Consumer Confidence Rises in July

Consumer confidence rose this month, according to the Thomson Reuters/University of Michigan consumer sentiment index released Friday.

The month’s final index rose to a reading of 85.1 from 84.1 in June.

The index was higher than a preliminary 83.9 reading two weeks ago, and topped economists’ median forecast of an 84 reading, Bloomberg News reported.

The index averaged 64.2 during the recession that ended in June 2009 and 89 in the five years prior to that.