Investing.com – U.S. consumer confidence rose more-than-expected in April, industry data showed on Tuesday.
In a report, the Conference Board, a market research group said its index of consumer confidence rose to 65.4 in April, compared to a reading of 63.8 in March, whose figure was revised up from 63.4.
Analysts had expected the index to rise to 64.4 in April.
The report also showed that the CB index of consumer expectations rose to 82.6 in April from 81.3 March, while the Present Situation Index increased to 39.6 from 37.5.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Consumers’ short-term outlook improved slightly, suggesting that the uncertainty expressed last month is easing. Inflation expectations, which had spiked, retreated somewhat in April.”
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD rising 0.22% to hit 1.4613.
Meanwhile, U.S. stock markets were higher. The Dow Jones Industrial Average added 0.35%, the S&P 500 index climbed 0.37%, while the Nasdaq Composite index gained 0.24%.
In a report, the Conference Board, a market research group said its index of consumer confidence rose to 65.4 in April, compared to a reading of 63.8 in March, whose figure was revised up from 63.4.
Analysts had expected the index to rise to 64.4 in April.
The report also showed that the CB index of consumer expectations rose to 82.6 in April from 81.3 March, while the Present Situation Index increased to 39.6 from 37.5.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Consumers’ short-term outlook improved slightly, suggesting that the uncertainty expressed last month is easing. Inflation expectations, which had spiked, retreated somewhat in April.”
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD rising 0.22% to hit 1.4613.
Meanwhile, U.S. stock markets were higher. The Dow Jones Industrial Average added 0.35%, the S&P 500 index climbed 0.37%, while the Nasdaq Composite index gained 0.24%.