February 2, 2007 10:30 AM, EST

Michigan Consumer Sentiment Index Hits Two-Year High

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U.S. consumer confidence rose to a two-year high in January, according to the University of Michigan’s monthly consumer sentiment index released said Friday.The index rose to 96.9 from 91.7 in December. Economists had expected the index to rise even higher, to 98, Bloomberg reported.The latest figure compares with a 98 reading released in mid-January.