Consumer Confidence Improves

Consumer confidence rose this month from its lowest level in almost three years, according to the Thomson Reuters/University of Michigan consumer sentiment index released Friday.

The month’s final index rose to 59.4, from 55.7 in August. Last month’s reading was the lowest since November 2008.

A preliminary reading two weeks ago showed a reading of 57.8.

The final index was higher than economists’ median forecast, which matched the preliminary reading, Bloomberg reported.

The index averaged a reading of 89 in the five years leading up to the recession at the end of 2007.