Investing.com – U.S. consumer confidence declined more-than-expected in March, industry data showed on Tuesday.
In a report, the Conference Board, a market research group said its index of consumer confidence fell to 63.4 in March, compared to a reading of 72.0 in February, whose figure was revised up from 70.4.
Analysts had expected the index to decline to 65.0 in March.
The report also showed that the CB index of consumer expectations dropped to 81.1 in March, compared to 97.5 in February.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Consumers’ inflation expectations rose significantly in March and their income expectations soured, a combination that will likely impact spending decisions.”
Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD easing down 0.02% to hit 1.4084.
Meanwhile, U.S. stock markets were mixed. The Dow Jones Industrial Average added 0.05%; the S&P 500 index dipped 0.05%, while the Nasdaq Composite index gained 0.25%.
In a report, the Conference Board, a market research group said its index of consumer confidence fell to 63.4 in March, compared to a reading of 72.0 in February, whose figure was revised up from 70.4.
Analysts had expected the index to decline to 65.0 in March.
The report also showed that the CB index of consumer expectations dropped to 81.1 in March, compared to 97.5 in February.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Consumers’ inflation expectations rose significantly in March and their income expectations soured, a combination that will likely impact spending decisions.”
Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD easing down 0.02% to hit 1.4084.
Meanwhile, U.S. stock markets were mixed. The Dow Jones Industrial Average added 0.05%; the S&P 500 index dipped 0.05%, while the Nasdaq Composite index gained 0.25%.