Consumers’ assessment of current conditions in the U.S. increased in February, according to a monthly survey released on Tuesday.

The Consumer Confidence Index hit 114.8 in February, according to data from The Conference Board, the highest since July 2001.

Economists expected the Consumer Confidence Index to hit 111 in February, according to a Thomson Reuters consensus estimate.

“Consumers rated current business and labor market conditions more favorably this month than in January,” Lynn Franco, director of economic indicators at The Conference Board, said in a statement.

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