Consumer confidence in US jumps the most for 12 years

CONSUMER confidence in the US economy this month jumped the most for 12 years as the fighting in Iraq ended, energy costs fell and stock prices rose.

The New York-based Conference Board’s consumer confidence index increased to 81 from a reading of 61.4 in March. The almost 20-point jump was the biggest since March 1991, the month marking the end of the previous war with Iraq.

More people said they expect improved conditions six months from now, setting the stage for stronger spending. A sustained increase in consumer confidence may help generate momentum for an economy that’s grown at an annual rate of less than 2% in each of the last two quarters, economists said.