Investing.com - Consumer confidence in the U.S. fell unexpectedly in August, industry data showed on Tuesday.
In a report, Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index fell to 45.1 in August from July’s reading of 47.1.
Economists had expected the index to rise 47.9 this month.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
The index is 2.2 points below its 12-month average of 47.3 and 4.5 points below its all-time average of 49.6.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD adding 0.27% to trade at 1.3293.
Meanwhile, U.S. stock markets remained lower. The Dow Jones Industrial Average fell 0.6%, the S&P 500 index shed 0.4%, while the Nasdaq Composite index declined 0.4%.
In a report, Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index fell to 45.1 in August from July’s reading of 47.1.
Economists had expected the index to rise 47.9 this month.
A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.
The index is 2.2 points below its 12-month average of 47.3 and 4.5 points below its all-time average of 49.6.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD adding 0.27% to trade at 1.3293.
Meanwhile, U.S. stock markets remained lower. The Dow Jones Industrial Average fell 0.6%, the S&P 500 index shed 0.4%, while the Nasdaq Composite index declined 0.4%.