Investing.com - U.S. consumer confidence improved more than expected in June to hit the highest level since January 2008, underlining optimism over the U.S. economic outlook, industry data showed on Tuesday.
In a report, the Conference Board, a market research group said its index of consumer confidence rose to 85.2 this month from a reading of 82.2 in May, whose figure was revised down from a previously reported 83.0. Analysts expected the index to rise to 83.5 in June.
The Present Situation Index increased to 85.1 from 80.3, while the Expectations Index rose to 85.2 from 83.5 in May.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “June’s increase was driven primarily by improving current conditions, particularly consumers’ assessment of business conditions.”
Following the release of the data, the U.S. dollar held on to modest losses against the euro, with EUR/USD rising 0.1% to trade at 1.3616.
Meanwhile, U.S. equity markets were mixed after the open. The Dow fell 0.1%, the S&P 500 declined 0.1%, while the Nasdaq 100 tacked on 0.3%.