Investing.com - U.S. consumer confidence fell unexpectedly to the lowest level since April this month, underlining concerns 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 declined to a seven-month low of 70.4 in November from a reading of 72.4 in October, whose figure was revised up from 71.2.
Analysts had expected the index to rise to 72.9 this month.
The Present Situation Index edged down to 72.0 from 72.6. The Expectations Index declined to 69.3 from 72.2 last month.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “All in all, with such uncertainly prevailing, this could be a challenging holiday season for retailers.”
Following the release of the data, the U.S. dollar added to losses against the euro, with EUR/USD adding 0.14% to trade at 1.3536, up from 1.3524 ahead of the data.
Meanwhile, U.S. equity markets remained mixed. The Dow Jones Industrial Average rose 0.1%, the S&P 500 index added 0.1%, while the Nasdaq Composite index dipped 0.1%.
In a report, the Conference Board, a market research group said its index of consumer confidence declined to a seven-month low of 70.4 in November from a reading of 72.4 in October, whose figure was revised up from 71.2.
Analysts had expected the index to rise to 72.9 this month.
The Present Situation Index edged down to 72.0 from 72.6. The Expectations Index declined to 69.3 from 72.2 last month.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “All in all, with such uncertainly prevailing, this could be a challenging holiday season for retailers.”
Following the release of the data, the U.S. dollar added to losses against the euro, with EUR/USD adding 0.14% to trade at 1.3536, up from 1.3524 ahead of the data.
Meanwhile, U.S. equity markets remained mixed. The Dow Jones Industrial Average rose 0.1%, the S&P 500 index added 0.1%, while the Nasdaq Composite index dipped 0.1%.