Investing.com - U.S. consumer confidence fell more-than-expected in September, adding to uncertainty regarding the duration of the Federal Reserve’s bond-buying program, industry data showed on Tuesday.
In a report, the Conference Board, a market research group said its index of consumer confidence fell to 79.7 in September from a reading of 81.8 in August, whose figure was revised up from 81.5.
Analysts had expected the index to fall to 79.9 this month.
The Present Situation Index grew to 73.2 from 70.9. The Expectations Index fell to 84.1 from 89.0 last month.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Consumer Confidence decreased in September as concerns about the short-term outlook for both jobs and earnings resurfaced, while expectations for future business conditions were little changed.”
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.06% to trade at 1.3485.
Meanwhile, U.S. equity markets turned lower. The Dow Jones Industrial Average fell 0.15%, the S&P 500 index dipped 0.2%, while the Nasdaq Composite index eased down 0.1%.
In a report, the Conference Board, a market research group said its index of consumer confidence fell to 79.7 in September from a reading of 81.8 in August, whose figure was revised up from 81.5.
Analysts had expected the index to fall to 79.9 this month.
The Present Situation Index grew to 73.2 from 70.9. The Expectations Index fell to 84.1 from 89.0 last month.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Consumer Confidence decreased in September as concerns about the short-term outlook for both jobs and earnings resurfaced, while expectations for future business conditions were little changed.”
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.06% to trade at 1.3485.
Meanwhile, U.S. equity markets turned lower. The Dow Jones Industrial Average fell 0.15%, the S&P 500 index dipped 0.2%, while the Nasdaq Composite index eased down 0.1%.