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Consumer Confidence in U.S. Increases More Than Forecast

Confidence among U.S. consumers jumped more than forecast in February as Americans adjusted to a higher payroll tax and signs of a recovering housing market spurred faith in the future.

The Conference Board’s index climbed to 69.6, exceeding all forecasts in a Bloomberg survey of economists, from a revised 58.4 in January, data from the New York-based private research group showed today. It was the first improvement in four months and the biggest since November 2011.