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Consumer confidence jumped in March to the highest level in more than 16 years as Americans were increasingly upbeat about present and future conditions, according to a report March 28 from the New York-based Conference Board.

The group’s confidence index rose to 125.6 from a revised 116.1 in February, compared with the median estimate of 114 from analysts surveyed by Bloomberg News.

The cutoff date for the survey was March 16.

By Bloomberg News

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