Investing.com - Consumer confidence in the U.S. for April improved more-than-expected, industry data showed on Tuesday.
In a report, Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index rose by 1.8 points to 49.3 in April from March’s reading of 47.5.
Economists had expected the index to rise by 1.6 points to 49.1 in April.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
The index is 5.8 points above its 12-month average of 43.5 and 4.9 points above its reading of 44.4 in December 2007 when the economy entered into the recession.
The index remains 0.6 points below its all-time average of 49.9.
The Six-Month Economic Outlook, a measure of how consumers feel about the economy’s prospects in the next six months, gained 3.3 points to 52.1.
Confidence in Federal Economic Policies, a proprietary IBD/TIPP measure of views on how government economic policies are working rose 1.6 points to reach 41.0.
"Consumer confidence improved despite concerns about gasoline prices and persisting high unemployment,” said Raghavan Mayur, president of TIPP.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.17% to trade at 1.3084.
Meanwhile, U.S. equity markets were broadly lower after the open. The Dow Jones Industrial Average fell 0.45%, the S&P 500 index declined 0.4%, while the Nasdaq Composite index was flat.
In a report, Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index rose by 1.8 points to 49.3 in April from March’s reading of 47.5.
Economists had expected the index to rise by 1.6 points to 49.1 in April.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
The index is 5.8 points above its 12-month average of 43.5 and 4.9 points above its reading of 44.4 in December 2007 when the economy entered into the recession.
The index remains 0.6 points below its all-time average of 49.9.
The Six-Month Economic Outlook, a measure of how consumers feel about the economy’s prospects in the next six months, gained 3.3 points to 52.1.
Confidence in Federal Economic Policies, a proprietary IBD/TIPP measure of views on how government economic policies are working rose 1.6 points to reach 41.0.
"Consumer confidence improved despite concerns about gasoline prices and persisting high unemployment,” said Raghavan Mayur, president of TIPP.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.17% to trade at 1.3084.
Meanwhile, U.S. equity markets were broadly lower after the open. The Dow Jones Industrial Average fell 0.45%, the S&P 500 index declined 0.4%, while the Nasdaq Composite index was flat.