Investing.com – U.S. consumer confidence rose more-than-expected in December, climbing to the highest level since April, industry data showed on Tuesday.
In a report, the Conference Board, a market research group said its index of consumer confidence rose by 9.3 points to 64.5 in December from a reading of 55.2 in November, whose figure was revised down from 56.0.
Analysts had expected the index to rise by 3.0 points to 58.2 in December.
The Present Situation Index increased to 46.7 from 38.3. The Expectations Index rose to 76.4 from 66.4.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Consumers’ assessment of current business and labor market conditions improved again.”
“Looking ahead, consumers are more optimistic that business conditions, employment prospects, and their financial situations will continue to get better."
“While consumers are ending the year in a somewhat more upbeat mood, it is too soon to tell if this is a rebound from earlier declines or a sustainable shift in attitudes," she added.
Following the release of the data, the U.S. dollar remained modestly lower against the euro, with EUR/USD easing up 0.05% to trade at 1.3066.
Meanwhile, U.S. equity markets were higher after the open. The Dow Jones Industrial Average rose 0.25%, the S&P 500 index advanced 0.3%, while the Nasdaq Composite index added 0.4%.
In a report, the Conference Board, a market research group said its index of consumer confidence rose by 9.3 points to 64.5 in December from a reading of 55.2 in November, whose figure was revised down from 56.0.
Analysts had expected the index to rise by 3.0 points to 58.2 in December.
The Present Situation Index increased to 46.7 from 38.3. The Expectations Index rose to 76.4 from 66.4.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Consumers’ assessment of current business and labor market conditions improved again.”
“Looking ahead, consumers are more optimistic that business conditions, employment prospects, and their financial situations will continue to get better."
“While consumers are ending the year in a somewhat more upbeat mood, it is too soon to tell if this is a rebound from earlier declines or a sustainable shift in attitudes," she added.
Following the release of the data, the U.S. dollar remained modestly lower against the euro, with EUR/USD easing up 0.05% to trade at 1.3066.
Meanwhile, U.S. equity markets were higher after the open. The Dow Jones Industrial Average rose 0.25%, the S&P 500 index advanced 0.3%, while the Nasdaq Composite index added 0.4%.