Investing.com - U.S. consumer confidence rose more-than-expected in August, hitting the highest level since January 2008, industry data showed on Tuesday.
In a report, the Conference Board, a market research group said its index of consumer confidence rose to 81.5 in August from a reading of 81.0 in July, whose figure was revised up from 80.3.
Analysts had expected the index to fall to 79.0 in August.
The Present Situation Index decreased to 70.7 from 73.6. The Expectations Index increased to 88.7 from 86.0 last month.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Consumers were moderately more upbeat about business, job and earning prospects.”
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD shedding 0.12% to trade at 1.3385.
Meanwhile, U.S. equity markets remained lower. The Dow Jones Industrial Average fell 0.45%, the S&P 500 index dipped 0.7%, while the Nasdaq Composite index dropped 0.8%.
In a report, the Conference Board, a market research group said its index of consumer confidence rose to 81.5 in August from a reading of 81.0 in July, whose figure was revised up from 80.3.
Analysts had expected the index to fall to 79.0 in August.
The Present Situation Index decreased to 70.7 from 73.6. The Expectations Index increased to 88.7 from 86.0 last month.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Consumers were moderately more upbeat about business, job and earning prospects.”
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD shedding 0.12% to trade at 1.3385.
Meanwhile, U.S. equity markets remained lower. The Dow Jones Industrial Average fell 0.45%, the S&P 500 index dipped 0.7%, while the Nasdaq Composite index dropped 0.8%.