Advertisement
YOU ARE HERE: LAT HomeCollectionsConsumers

Consumers Confident Despite Crash

October 30, 1987|From a Times Staff Writer

NEW YORK — Consumers say their buying plans haven't changed and their confidence was only moderately shaken by the stock market upheaval, according to a survey by the Conference Board.

A survey commissioned by the nonprofit business research institute found that nearly 73% of the consumers questioned still intend to make planned purchases of automobiles, household appliances, furniture and other major goods despite the market turmoil.

Another 74% said they are either unconcerned or only somewhat concerned about the recent plunge in stock prices. Only 15% acknowledged being "extremely concerned."

Based on the survey, the Conference Board said that its consumer confidence index fell only modestly--to 110.4 between last Thursday and Sunday from 116.9 during the first two weeks of October. By comparison, the institute said the index lost more than one-third of its value after the 1973 oil crisis. The survey uses 1986 as a base of 100.

"The Dow Jones quake has thus far generated only mild aftershocks among consumers. While consumers are a bit more cautious than they were earlier this month, confidence is continuing at high levels," said Fabian Linden, executive director of the group's Consumer Research Center.

Advertisement
Los Angeles Times Articles
|
|
|