NEW YORK (CNN/Money) -
Consumer confidence remained sluggish for the week ended Jan. 12 as Americans were daunted by fears of more job cuts and a war with Iraq, according to an ABC News/Money magazine survey.
The ABC News/Money magazine Consumer Comfort Index, based on public views of current economic conditions, fell to -21 last week from -19 in the week prior. The index touched a nine-year low of -23 twice in the fourth quarter of 2002.
Measured separately, views on the national economy fell 2 percentage points from the week before as 26 percent of those surveyed said the economy is in excellent or good shape. The best figure was reported on Jan. 16, 2000, with 80 percent, and only 7 percent thought so in late 1991 and early 1992.
Opinions on personal finance also fell, as 55 percent of those polled said their finances are in excellent or good shape, down from 57 percent in the previous poll. 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, the same as the week ended Jan. 5. The lowest level was 20 percent in the fall of 1990.
ABC/Money said the results released on Tuesday reflected the result of 1,006 interviews in the month ended Jan. 12, with a margin of error of plus or minus 3 percentage points.
|