American consumer confidence reached an 11-year high in January as a strengthening labor market and plunging gas prices kept households looking on the bright side. The University of Michigan final consumer sentiment index rose to 98.1, the highest since January 2004, from 93.6 in December. The median estimate in a Bloomberg survey of 62 economists projected a reading of 98.2, the same as the preliminary figures issued earlier this month. Americans were the most upbeat about the economic outlook in a decade thanks to dollars saved at the gas pump and better employment prospects in a healing job market. Consumer ... (full story)