Business Brief

Survey: Confidence in economy is growing

7/27/2013
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ASSOCIATED PRESS

WASHINGTON — Americans are more confident about the economy than at any time since July, 2007, a survey found, suggesting consumers will spend more and accelerate growth in the months ahead.

The University of Michigan said Friday that its final reading of consumer sentiment in July was 85.1. That’s up one point from June and nearly 13 points higher than a year ago.

Rising home prices and steady job gains are boosting household wealth and income.