U.S. News

Investor Confidence Falls Due to Housing Woes: Survey


Investors' confidence in the U.S. economy fell in March to its lowest since September 2006,
as concerns over the struggling housing market weighed on sentiment, according to a UBS/Gallup survey released on Monday.

The UBS/Gallup Index of Investor Optimism fell to 78 in March from 90 in February, the lowest reading since 74 in September last year.

"Investors are increasingly concerned about conditions in the residential real estate market," a statement accompanying the UBS/Gallup survey said.

"Seventy-two percent of investors say they believe that conditions in the residential real estate market nationwide are getting worse, not better in March, up from 63% in February."