U.S. Consumer Confidence Rises to 106.3, Highest Since 2002

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Jan. 31 (Bloomberg) -- U.S. consumer confidence rose more than expected in January to the highest since June 2002 as employers added jobs.

The Conference Board's consumer confidence index rose to 106.3 from 103.8 in December. The index surpassed the 105.5 level it reached in August, before the Gulf Coast hurricanes.

A rebound in consumer confidence, which tumbled in the wake of Hurricane Katrina and a related surge in gasoline prices, fueled a 0.9 percent increase in personal spending in December, the most in five months. An acceleration in spending in the final two months of last year led some economists to raise their estimates of growth in this year's first quarter.