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U.S. consumer confidence rose this month for the fourth consecutive time in June, according to the Reuters/University of Michigan monthly consumer sentiment index released Friday.

The final index for June rose to a reading of 70.8, the highest reading since February 2008, from 68.7 last month.

It was also higher than the preliminary reading earlier this month of 69.

Economists had forecast reading final of 69, Bloomberg reported.

An improvement in confidence may increase consumer spending, which accounts for 70% of the economy.