Investing.com – U.S. consumer confidence rose unexpectedly in July, rebounding from a seven-month low, industry data showed on Tuesday.
In a report, the Conference Board, a market research group said its index of consumer confidence rose to 59.5 in July from a reading of 57.6 in June, whose figure was revised down from 58.5.
Analysts had expected the index to decline to 56.0 in July.
The report showed that the Present Situation Index decreased to 35.7 from 36.6, while Consumer Expectations Index rose to 75.4 from 71.6 last month.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Overall, consumers remain apprehensive about the future, but some of the concern expressed last month has abated.”
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD gaining 0.62% to trade at 1.4468.
Meanwhile, U.S. equity markets were broadly lower after the open. The Dow Jones Industrial Average dropped 0.65%, the S&P 500 index fell 0.45%, while the Nasdaq Composite index edged 0.1% lower.
In a report, the Conference Board, a market research group said its index of consumer confidence rose to 59.5 in July from a reading of 57.6 in June, whose figure was revised down from 58.5.
Analysts had expected the index to decline to 56.0 in July.
The report showed that the Present Situation Index decreased to 35.7 from 36.6, while Consumer Expectations Index rose to 75.4 from 71.6 last month.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Overall, consumers remain apprehensive about the future, but some of the concern expressed last month has abated.”
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD gaining 0.62% to trade at 1.4468.
Meanwhile, U.S. equity markets were broadly lower after the open. The Dow Jones Industrial Average dropped 0.65%, the S&P 500 index fell 0.45%, while the Nasdaq Composite index edged 0.1% lower.