Consumer Confidence at 2-year high

The Reuters/University of Michigan Surveys of Consumers said Friday its final index of sentiment increased in January to 74.4, up from December’s 72.5 and higher than analysts’ expectations for 73.0.

That was the highest reading since January 2008.

“Consumers are overwhelmingly convinced that the worst is over but nonetheless expect stagnating income and job prospects rather than solid growth during the year ahead,” the University of Michigan report said.