Investing.com - Consumer confidence in the U.S. improved more-than-expected in November, bouncing off the previous month’s 26-month low, industry data showed on Tuesday.
In a report, Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index rose to 41.4 in November from October’s reading of 38.4.
Economists had expected the index to rise 41.1 this month.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
The index is 3.6 points below its 12-month average of 45.0, 3.0 points below its reading of 44.4 in December 2007 when the economy entered the recession, and 8.1 points below its all-time average of 49.5.
Following the release of the data, the U.S. dollar added to gains against the euro, with EUR/USD shedding 0.47% to trade at 1.3451.
Meanwhile, U.S. stock markets remained lower. The Dow Jones Industrial Average fell 0.65%, the S&P 500 index declined 0.6%, while the Nasdaq Composite index dipped 0.6%.
In a report, Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index rose to 41.4 in November from October’s reading of 38.4.
Economists had expected the index to rise 41.1 this month.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
The index is 3.6 points below its 12-month average of 45.0, 3.0 points below its reading of 44.4 in December 2007 when the economy entered the recession, and 8.1 points below its all-time average of 49.5.
Following the release of the data, the U.S. dollar added to gains against the euro, with EUR/USD shedding 0.47% to trade at 1.3451.
Meanwhile, U.S. stock markets remained lower. The Dow Jones Industrial Average fell 0.65%, the S&P 500 index declined 0.6%, while the Nasdaq Composite index dipped 0.6%.