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.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!