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News Summary: US consumer confidence edges up

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The Associated Press | August 27, 2013 03:51 PM EST | AP


WASHINGTON — FEELING UPBEAT: Americans' confidence in the economy inched closer to a 5 1/2-year high on rosier expectations for the next six months.

THE NUMBERS: The Conference Board, a New York-based private research group, said consumer confidence index rose to 81.5 in August. That's up from a revised reading of 81 in July. And it's just below the 82.1 reading in June, which was the highest since January 2008.

EXPECTING BETTER PAY: Consumers' income expectations, which fell earlier this year after a January tax hike, rebounded to the highest level in 2 1/2 years.