Consumer Confidence Jumps on Lower Fuel Prices

U.S. consumer confidence this month rose by the most in four years in September, according to the Reuters/University of Michigan’s preliminary monthly consumer sentiment index, released Friday.

The reading rose to 73.1, from 63 in August, the biggest jump since January 2004.

The decline was due largely to lower fuel prices, Bloomberg reported.
 
Economists had expected the reading to rise to a reading of 64, Bloomberg reported. The sentiment index averaged 85.6 last year.