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U.S. Michigan Consumer Sentiment Increase May Boost Spending

Confidence among American households unexpectedly rose last month in a possible benefit to consumer spending, the largest part of the economy.

The Thomson Reuters/University of Michigan index of consumer sentiment climbed to 73.8 in January from 72.9 in December. The gauge was projected to drop to 71.5, according to the median forecast of 62 economists surveyed by Bloomberg. It compared with a preliminary reading of 71.3.