Consumers more upbeat about economy and jobs

Washington

CONSUMER confidence rebounded more than forecast in March as American households grew more upbeat about prospects for the labour market and economy.

The Conference Board's sentiment index rose to 96.2 this month from a revised 94 reading in February that was higher than previously reported, the New York-based private research group said on Tuesday. Employment opportunities and a rebound in stock prices boosted optimism enough this month to overcome rising gasoline prices. Greater wage gains would probably help propel confidence further and make consumers more comfortable about boosting their spending after a weak start to the year.