Investing.com - U.S. consumer confidence fell more than expected in April, dampening optimism over the U.S. economic outlook, industry data showed on Tuesday.
In a report, the Conference Board, a market research group said its index of consumer confidence declined to 82.3 this month from a reading of 83.9 in March, whose figure was revised up from a previously reported 82.3.
Analysts had expected the index to inch down to 83.0 in April.
The Present Situation Index decreased to 78.3 from 82.5, while the Expectations Index was virtually unchanged at 84.9 versus 84.8 in March.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Consumer confidence declined slightly in April, as consumers assessed current business and labor market conditions less favorably than in March.”
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.2% to trade at 1.3822.
Meanwhile, U.S. equity markets were higher after the open. The Dow Jones Composite rose 0.55%, the S&P 500 added 0.5%, while the NASDAQ Composite tacked on 0.4%.