Consumer confidence up, still near historic low: survey

NEW YORK (Reuters) - American consumers' confidence rose in the latest week on the back of a better perception of the U.S. buying climate, but it is still near its historic low, a survey showed on Tuesday.

The ABC News Consumer Comfort Index edged up to -47 in the week to August 31 from -50 in the previous week. Its all-time low, reached in May, is -51 and its average is -10.

The index components were mixed, with positive views on the buying climate up 3 percentage points to 21 percent and those on the national economy up 2 percentage points to 13 percent. Views on personal finances fell 1 percentage point to 45 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 News consumer confidence survey was based on a sample of about 1,000 interviews conducted in the four weeks ending August 31 and has a margin of error of plus or minus 3 percentage points.

(Reporting by Rodrigo Campos)