Business Services Industry
Housing market grows despite fading consumer confidence.(ID's Construction Update)
Industrial Distribution, January, 1999 by Delano, Daryl
Despite recent declines in consumer confidence, the housing market continues to turn in stellar numbers. Clearly, there are other factors that mean as much, or more, than consumer sentiment in determining demand for new and existing homes. The Conference Board's composite Consumer Confidence Index fell sharply again in October, following dips in July, August and September.
The 9.1 point decline in October brought the CCI down to a level of 117.3 (1985 = 100). The CCI has now dropped a cumulative 15.1 percent since it reached a 30-year-high in June of this year. Unlike previous months, when consumers remained relatively sanguine about current economic conditions, although apprehensive about the future, both the "Present Situation" CCI and the...
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