NEW YORK (CNN/Money) - U.S. consumer confidence took a steep fall last week as most Americans expressed a reluctance to spend cash in an uncertain economic environment, even as the holiday shopping season reached full throttle, according to an ABC/Money magazine survey.

The ABC News/Money magazine Consumer Comfort Index, based on public views of current economic conditions, fell 5 points to -22 on its scale of +100 to -100.

This is the third drop of five or more points in 2002, the third most in 17 years of polling. There were four such declines in 1990 and six in 2001.

A drop this big has happened only 19 times in 900 weeks of continuous polling.

Measured separately, views on the national economy fell one percentage point from the prior week as 26 percent of those surveyed said the economy is in excellent or good shape. Only 7 percent thought so in late 1991 and early 1992.

Opinions on personal finance also fell, as 54 percent of those polled said their finances are in excellent or good shape, down from 56 percent in the week ended Dec. 1. Just 42 percent had that opinion in March 1993.

Also, 37 percent of those asked said it is an excellent or good time to buy things they want or need, a decline from 41 percent in the previous poll. The lowest level was 20 percent in the fall of 1990.

The ABC News/Money consumer index represents a rolling average based on telephone interviews with about 1,000 adults nationwide each month. The latest week's results are based on 1,017 interviews in the week ended Dec. 8, 2002, and have an error margin of plus or minus three percentage points.