RJ and Makay

The Conference Board Consumer Confidence Index (CCI), a widely accepted measure of consumer sentiment about the economy, is up nearly 14% since December to 60.6 — its highest level in eight months. The increase put the CCI well above the 54.3 level economists predicted for January.

The sharp spike in consumer sentiment is in line with other data indicating an improved economy. "The recovery in stock prices and the beginnings of an improvement in the labor market are making people feel better about the economy," says Ian Shepherdson, chief U.S. economist at High Frequency Economics in Valhalla, New York.