Investing.com - U.S. consumer confidence rose more-than-expected in December to hit a three-month high, industry data showed on Tuesday.
In a report, the Conference Board, a market research group said its index of consumer confidence improved to 78.1 in December from a reading of 72.0 in November, whose figure was revised up from a previously reported 70.4. Analysts had expected the index to rise to 76.0 this month.
The Present Situation Index increased to 76.2 from 73.5. The Expectations Index increased to 79.4 from 71.1 last month.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Sentiment regarding current conditions increased to a 5 ½ year high, with consumers attributing the improvement to more favorable economic and labor market conditions.”
“Despite the many challenges throughout 2013, consumers are in better spirits today than when the year began,” she added.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.21% to trade at 1.3769.
Meanwhile, U.S. equity markets were modestly higher after the open. The Dow Jones Industrial Average rose 0.25%, the S&P 500 index inched up 0.25%, while the Nasdaq Composite index was up 0.25%.
In a report, the Conference Board, a market research group said its index of consumer confidence improved to 78.1 in December from a reading of 72.0 in November, whose figure was revised up from a previously reported 70.4. Analysts had expected the index to rise to 76.0 this month.
The Present Situation Index increased to 76.2 from 73.5. The Expectations Index increased to 79.4 from 71.1 last month.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Sentiment regarding current conditions increased to a 5 ½ year high, with consumers attributing the improvement to more favorable economic and labor market conditions.”
“Despite the many challenges throughout 2013, consumers are in better spirits today than when the year began,” she added.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.21% to trade at 1.3769.
Meanwhile, U.S. equity markets were modestly higher after the open. The Dow Jones Industrial Average rose 0.25%, the S&P 500 index inched up 0.25%, while the Nasdaq Composite index was up 0.25%.