Investing.com – U.S. consumer confidence increased more-than-expected in November, rising to a 5-month high, industry data showed on Tuesday.
In a report, the Conference Board, a market research group said its index of consumer confidence rose to 54.1 in November, after rising to 49.9 in October, whose figure was revised down from 50.2.
Analysts had expected the index to rise to 52.0 in November.
The report also showed that the CB index of consumer expectations rose to 74.2 in November, compared to 67.5 in October.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Consumers’ assessment of the current state of the economy and job market, while only slightly better than last month, suggests the economy is still expanding, albeit slowly.”
Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD falling 0.88% to hit 1.3009.
Meanwhile, U.S. stock markets were down: the Dow Jones Industrial Average fell 0.52%; the S&P 500 index shed 0.68%, while the Nasdaq Composite index tumbled 1.16%.
In a report, the Conference Board, a market research group said its index of consumer confidence rose to 54.1 in November, after rising to 49.9 in October, whose figure was revised down from 50.2.
Analysts had expected the index to rise to 52.0 in November.
The report also showed that the CB index of consumer expectations rose to 74.2 in November, compared to 67.5 in October.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Consumers’ assessment of the current state of the economy and job market, while only slightly better than last month, suggests the economy is still expanding, albeit slowly.”
Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD falling 0.88% to hit 1.3009.
Meanwhile, U.S. stock markets were down: the Dow Jones Industrial Average fell 0.52%; the S&P 500 index shed 0.68%, while the Nasdaq Composite index tumbled 1.16%.