U.S. consumer confidence vaults to 14-month high in April

© Reuters/BRENDAN MCDERMIDFILE PHOTO: A man shops on 5th Avenue in New York

WASHINGTON (Reuters) - U.S. consumer confidence jumped to a 14-month high in April as increased vaccination against COVID-19 and additional fiscal stimulus allowed for more services businesses to reopen, boosting demand and hiring by companies.

The Conference Board said on Tuesday its consumer confidence index raced to a reading of 121.7 this month. That was the highest level since February 2020, just before the onset of the COVID-19 pandemic, and followed a reading of 109.0 in March. Economists polled by Reuters had forecast the index increasing to a reading of 113.0 in April.

(Reporting By Lucia Mutikani; Editing by Chizu Nomiyama)