Investing.com - U.S. consumer confidence rose to the highest level since February 2008 in November, industry data showed on Thursday.
In a report, the Conference Board, a market research group said its index of consumer confidence rose to 73.7 in November from a reading of 73.1 in October, whose figure was revised up from 72.2.
Analysts had expected the index to decline to 73.0 in November.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “This month’s moderate improvement was the result of an uptick in expectations, while consumers’ assessment of present-day conditions continues to hold steady.”
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.24% to trade at 1.2941.
Meanwhile, U.S. equity markets turned modestly higher. The Dow Jones Industrial Average eased up 0.05%, the S&P 500 index gained 0.1%, while the Nasdaq Composite index was little changed.
In a report, the Conference Board, a market research group said its index of consumer confidence rose to 73.7 in November from a reading of 73.1 in October, whose figure was revised up from 72.2.
Analysts had expected the index to decline to 73.0 in November.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “This month’s moderate improvement was the result of an uptick in expectations, while consumers’ assessment of present-day conditions continues to hold steady.”
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.24% to trade at 1.2941.
Meanwhile, U.S. equity markets turned modestly higher. The Dow Jones Industrial Average eased up 0.05%, the S&P 500 index gained 0.1%, while the Nasdaq Composite index was little changed.