Investing.com - Consumer confidence in the U.S. for January 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 to 46.5 in January from December’s reading of 45.1.
Economists had expected the index to rise to 46.3 in January.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
The index is 1.8 points below its 12-month average of 48.3, 2.1 points above its reading of 44.4 in December 2007 when the economy entered the recession, and 3.3 points below its all-time average of 49.8.
Following the release of the data, the U.S. dollar was higher against the euro, with EUR/USD shedding 0.3% to trade at 1.3076.
Meanwhile, U.S. equity markets were lower after the open. The Dow Jones Industrial Average fell 0.3%, the S&P 500 index declined 0.35%, while the Nasdaq Composite index dipped 0.3%.
In a report, Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index rose to 46.5 in January from December’s reading of 45.1.
Economists had expected the index to rise to 46.3 in January.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
The index is 1.8 points below its 12-month average of 48.3, 2.1 points above its reading of 44.4 in December 2007 when the economy entered the recession, and 3.3 points below its all-time average of 49.8.
Following the release of the data, the U.S. dollar was higher against the euro, with EUR/USD shedding 0.3% to trade at 1.3076.
Meanwhile, U.S. equity markets were lower after the open. The Dow Jones Industrial Average fell 0.3%, the S&P 500 index declined 0.35%, while the Nasdaq Composite index dipped 0.3%.