- Consumer confidence in the US plunged to a nine-year
low, according to a widely-watched barometer that revealed renewed anxiety
over the economy and developments abroad.
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- The Conference Board said its index of consumer sentiment
sank nearly 15 points to 64 in February. A component of the index measuring
expectations led the decline.
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- "Lackluster job and financial markets, rising fuel
costs, and the increasing threat of war and terrorism appear to have taken
a toll on consumers," says Lynn Franco, head of the Board's Consumer
Research Center.
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- "This month's confidence readings paint a gloomy
picture of current economic conditions, with no apparent rebound on the
short-term horizon."
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- Separately, the National Association of Realtors said
sales of previously owned homes were at a seasonally adjusted annual rate
of 6.09millin units, above the consensus forecast of 5.8 million and the
highest level in a year.
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