Consumer confidence declines

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Tuesday, March 25, 2003 | 9:43 a.m.

NEW YORK -- Consumer confidence declined for a fourth consecutive month in March, dragged down by worries about the economy and tensions in Iraq, a private research group said today.

The Consumer Confidence Index fell to 62.5 from a revised 64.8 in February, the New York-based Conference Board said. The reading was the lowest since October 1993, when the confidence index registered 60.5 in the aftermath of the 1991 Gulf War.

Still, the March decline was not as deep as expected and not nearly as drastic as the 14-point drop experienced in February. Analysts had expected a reading of 62.0 in March.