By  on May 28, 2013

Consumer confidence rose to a five-year high this month, gaining much more swiftly than economists projected.

The Conference Board’s Consumer Confidence Index increased to 76.2 for May, up from 69 in April and 61.9 in March. Economists expected the index to post a much smaller rise to 70.8. The measure of consumer sentiment is at its highest level since February 2008, when the index stood at 76.4.

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