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Confidence remains stagnant
ABC News/Money poll finds that consumer confidence has remained in a narrow range for 24 weeks.
November 4, 2003: 6:28 PM EST

NEW YORK (CNN/Money) - Consumer confidence remained stagnant last week, continuing a slump that has extended for nearly six months.

The ABC News/Money magazine Consumer Comfort Index held steady at -18 on its scale of +100 to -100, bringing it to its 24th straight week between -16 and -21.

At -18, the overall index stands far below its peaks in the late 1990s and into 2000, and well off its -9 average since the weekly poll began in 1985. National views on the economy are 12 points below their historical average, while ratings of personal finances and the buying climate are near their norms.

Twenty-nine percent of Americans rate the nation's economy as excellent or good, the same as the week prior.

Meanwhile, 56 percent of respondents rate their own finances as excellent or good, a tick off of the survey's 57 percent average.

And the survey's buying gauge, which measures consumers' willingness to spend, edged up slightly to 38 percent from 37 percent the previous week.

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Results from an ABC News/Washington Post poll released Sunday showed other signs of economic discomfort. Fifty-three percent of those polled say they disapprove of the way President Bush is handling the economy. Just 9 percent say most Americans are better off financially during Bush's presidency and 22 percent say that they are personally better off.

Economic views are a strong political force. Matched against a generic Democratic opponent, Bush wins support of about eight in 10 of the people who hold positive economic views, but loses six in 10 or more of those who hold negative views.

The ABC News/Money magazine Consumer Comfort Index represents a rolling average based on telephone interviews with a random sample of about 1,000 adults nationwide each month. Last week's results are based on 1,002 interviews in the month ended Nov. 2, 2003, and have an error margin of plus or minus three percentage points.  Top of page




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