Study shows rise in consumer confidence

NEW YORK The Reuters/University of Michigan Surveys of Consumers found that the final index of sentiment for September rose to 73.5 from 65.7 in August, indicating that the economy is improving and consumer confidence is on the rise.

According to reuters, the index was at its highest level since January 2008. Economists polled by Reuters had a median expectation for a reading of 70.3, according to a Reuters poll.

"The same pace of gains in confidence continued in late September as the economic news reaching consumers grew even more positive," the Reuters/University of Michigan Surveys of Consumers said in a statement. "Consumers reported that the economy had already begun to improve and anticipated further gains in the year ahead."