UPDATE: Consumer confidence rose to 83.1 according to the latest University of Michigan survey.

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That's well above expectations of a 78.0 reading.

It's also a significant rise from last month's reading of 78.3.

Zero Hedge tweets that it's been a long time since the numbers came in this far above expectations:

Consumer Confidence biggest beat since December 2005 — zerohedge (@zerohedge) October 12, 2012

And it's the highest consumer confidence reading since September 2007:

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ORIGINAL: Minutes away from University of Michigan Consumer Confidence survey data, due out at 9:55 AM ET.

A survey of economists polled by Bloomberg revealed consensus expectations of a 78.0 reading on the index, down slightly from 78.3 last month.

We will have the number here LIVE at 9:55 AM ET >