UPDATED:
9/16/2011 10:30:00 AM
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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 September preliminary index rose to a reading of 57.8, from the 55.7 reading in August that had been the lowest since November 2008.
A preliminary reading two weeks ago showed a reading of 54.9.
The reading topped economists’ median forecast of a 57 reading, Bloomberg reported.
The index averaged a reading of 89 in the five years leading up to the recession at the end of 2007.
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