Consumer confidence at record low: ABC/WashPost

NEW YORK (Reuters) - American consumers' confidence reached a record low as sky-high gasoline prices and a weak economy clouded their view of the economy, a report showed on Tuesday.

The ABC News/Washington Post Consumer Comfort Index fell to -51 in the week to May 25 from -49 the previous week, below its previous lowest mark of -50 hit in February 1992. The index, started 22 years ago, ranges from -100 to +100.

Earlier on Tuesday, the Conference Board said its monthly measure of consumer sentiment fell to 57.2 in May from 62.8 in April, below Wall Street's 60.0 median estimate and a 16-year low.

Crude oil futures hit a record $135.09 per barrel on Thursday.

Two of the ABC/WashPost index's three components fell. Positive views of the national economy shed one percentage point to 10 percent and views on personal finances were off 2 percentage points to 47 percent.

Positive views of buying climate were unchanged at 19 percent.

Confidence measures are generally viewed as a barometer of consumer spending, which accounts for two-thirds of the U.S. economy. However, economists note that consumers do not always act in accordance with their statements to surveys.

The ABC/Washington Post consumer confidence survey was based on a sample of about 1,000 interviews conducted in the four weeks to May 25 and has a margin of error of plus or minus 3 percentage points.

(Reporting by Rodrigo Campos; Editing by Dan Grebler)