Consumer sentiment is at a 3-year high

02/28/2011 | Reuters

An index of consumer confidence reached a three-year high in February, according to a survey results released by Thomson Reuters/University of Michigan. The group's survey's index on consumer sentiment increased to 77.5 last month, the highest reading since January 2008. "Consumers do appear to be taking the rise in gasoline and food prices in stride, which is very encouraging," said Ryan Sweet, a senior economist at Moody's Analytics.

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