Michigan Confidence joins the growing number of indicators that are now at or better than Pre-Lehman levels. Today's reading of 70.8 is actually the highest since January 2008. This month's reading is also the fourth consecutive month-over-month increase in confidence. A reading of 70.8 is still well below the monthly average of 86.8 since 1978, but it's also nicely above the level of 55 that we saw in late 2008.
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