U.S. Consumer Sentiment Climbs More Than Forecast: Economy

Confidence among U.S. consumers increased more than forecast in January, reaching its highest level in eight months on signs the labor market is improving.

The Thomson Reuters/University of Michigan preliminary index of consumer sentiment climbed to 74 from 69.9 at the end of December. The median estimate in a Bloomberg News survey called for 71.5. The measure has increased 9.9 points in the last two months, the biggest such gain since April-May 2009.