Confidence among U.S. consumers increased more than forecast in April, Bloomberg reported.

The Conference Board’s confidence index rose to 65.4 from a revised 63.8 reading in March, the group said today. The measure averaged 97 during the expansion that ended in December 2007.

Six straight months of job growth and joblessness being at a two-year low in March are helping sustain consumer purchases, which account for about 70 percent of the economy. Larger improvements in sentiment could be difficult as households spend more money on food and gasoline.

“Confidence is picking up on the back of an improving labor market and rising stock prices, which are offsetting higher gasoline prices,” said Sal Guatieri, a senior economist at BMO Capital Markets Inc. in Toronto. “Consumers will have both the confidence and the income to keep spending.”

A separate report today from the S&P/Case-Shiller index of property values said residential real estate prices dropped in February by the most in more than a year. Meanwhile, the Standard & Poor’s 500 index surged to its highest level since June 2008 today.