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Consumer confidence index surges in February

But questions linger as price of gas remains high

By Anne D’Innocenzio

 |  Associated press  

  February 29, 2012

A private research group says that consumer confidence in February rose dramatically from last month to the highest level since a year ago when the U.S. economy’s outlook started to look brighter before souring again. The Conference Board’s Consumer Confidence Index now stands at 70.8, up from a revised 61.5 in January, helped by consumers’ improving assessment of the job market. Analysts had expected a reading of 63. The February reading marks the highest level since February 2011 when it was 72.0.

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