ABC-Wash Post Consumer Comfort Index falls to -15
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.
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