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Article: Health care a safe haven now, but for how long?
- Article from:
- AP Online
- Article date:
- February 5, 2009
- Author:
CopyrightCopyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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Investors who sought refuge in health care have reason to feel less queasy than most in a sick economy where no industry has been recession-proof.
Health care stocks posted the second-smallest loss over the past year among 10 sectors tracked by Standard & Poor's, with an average decline of 21.6 percent through the end of January. Consumer staples such as food and household products like laundry detergent did a little better, with a 19.7 percent decline. Both sectors easily beat the S&P 500 index, which tumbled 40 percent.
Now comes the tricky part: figuring out how much safe-harbor staying power health care has left 14 months into this recession.
When enough ...