Broker Center sponsored links

ABC-Wash Post Consumer Comfort Index falls to -15

Tue Jun 5, 2007 5:00pm EDT
 
Email | Print | | Reprints | Single Page
[-] Text [+]

NEW YORK, June 5 (Reuters) - Confidence of U.S. consumers reached a new 2007 low due to rising gasoline prices, a weekly survey showed on Tuesday.

The ABC News/Washington Post Consumer Comfort Index fell to -15 in the latest week from -13 in the previous period. The measure ranges from -100 to +100; its 2007 average is -5 and its average since 1985 is -9.

Two of the three components of the ABC/Washington Post index were down from the previous week.

Americans' positive views on their personal finances were down 1 percentage point to 57 and those on the national economy fell 2 percentage points to 37. Positive views on the buying climate were unchanged at 33 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 ending June 3 and has a margin of error of plus or minus 3 percentage points.

 

Featured Broker sponsored link

Editor's Choice

Photo

A selection of our best photos from the past 24 hours.  View Slideshow 

Most Popular on Reuters