US consumers moan, but still buying homes


  • Business
  • Thursday, 27 Feb 2003

NEW YORK: US consumers felt their gloomiest in almost a decade in February, unstrung by talk of war and a grim job market, but that did not stop them buying homes at a record pace. 

The Conference Board’s index of consumer confidence slid to 64 for this month from 78.8 in January, shocking analysts who had looked for merely a dip to 76.8. It was the largest monthly drop since the aftermath of the Sept 11, 2001, attacks and took the index to its lowest level since late 1993. 

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