NEW YORK (TheStreet) -- Consumer confidence rose more than expected in February -- to its highest level in three years -- as consumer views about labor and market conditions improved modestly.


Conference Board Consumer Confidence Index

rose to 70.4 after improving in January to 64.8. On average, economists were expecting readings of 67.

"The Consumer Confidence Index is now at a three-year high due to growing optimism about the short-term future," Lynn Franco, director of The Conference Board Consumer Research Center said in a report.

Still, overall confidence remained "rather weak" Franco said.

In a strong economy, the reading is generally over 90.

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