U.S. Economy: Consumer Confidence Hits Two-Year High

Confidence among U.S. consumers rose in June to the highest level since January 2008, indicating the decline in stock prices prompted by the European debt crisis has failed to weigh on sentiment.

The Thomson Reuters/University of Michigan final index of consumer sentiment increased to 76, from 73.6 in May, the group said today. The index has averaged 84.5 over the past decade.