CHICAGO — A preliminary report out today says consumer confidence rose past expectations in January. The third straight monthly increase comes as Americans are beginning to feel slightly better about business conditions and the job picture.

The Conference Board's Consumer Confidence Index increased to 55.9 — the highest in more than a year. That compares with 53.6 in December.

January's index was better than the expected 53.5 forecast by economists.

Economists watch confidence numbers closely because consumer spending accounts for about 70 percent of U.S. economic activity. It takes a reading of 90 to indicate an economy on solid footing and 100 or more to indicate growth.

Today's figures are based on a survey of 5,000 households.