Investing.com - U.S. consumer confidence rose more-than-expected in January to hit a five-month high, industry data showed on Tuesday.
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In a report, the Conference Board, a market research group said its index of consumer confidence improved to 80.7 this month from a reading of 77.5 in December, whose figure was revised down from a previously reported 78.1. Analysts had expected the index to rise to 78.1 this month.
The Present Situation Index increased to 79.1 from 75.3. The Expectations Index increased to 81.8 from 79.0 last month.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Consumers’ assessment of the present situation continues to improve, with both business conditions and the job market rated more favorably.”
Following the release of the data, the U.S. dollar was little changed against the euro, with EUR/USD shedding 0.05% to trade at 1.3667.
Meanwhile, U.S. equity markets were mixed after the open. The Dow Jones Industrial Average rose 0.55%, the S&P 500 index inched up 0.5%, while the Nasdaq Composite index shed 0.25%.