Investing.com – Consumer confidence in the U.S. declined more-than-expected in July, industry data showed on Tuesday.
In a report, Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index dropped to 41.4 in July, down from June’s reading of 44.6.
Economists had expected the index to decline to 43.9 in July.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
The index is 3.9 points below its 12-month average of 45.3 and 3.0 points below its reading of 44.4 in December 2007 when the economy entered into the recession.
Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD shedding 0.17% to trade at 1.4004.
Meanwhile, U.S. equity markets were mixed. The Dow Jones Industrial Average eased up 0.15%, the S&P 500 index edged 0.1% higher, while the Nasdaq Composite index dropped 0.2%.
In a report, Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index dropped to 41.4 in July, down from June’s reading of 44.6.
Economists had expected the index to decline to 43.9 in July.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
The index is 3.9 points below its 12-month average of 45.3 and 3.0 points below its reading of 44.4 in December 2007 when the economy entered into the recession.
Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD shedding 0.17% to trade at 1.4004.
Meanwhile, U.S. equity markets were mixed. The Dow Jones Industrial Average eased up 0.15%, the S&P 500 index edged 0.1% higher, while the Nasdaq Composite index dropped 0.2%.