NEW YORK (CNN/Money) -
Consumer confidence stood unchanged last week, according to a poll released Tuesday that showed political leanings influenced how people perceived economic conditions.
The ABC/Money magazine consumer comfort index showed that consumer confidence among Republicans reached a 3-year high, but the same index reached a 10-year low among Democrats.
The consumer index posted no changes at -7 for the week ended July 18, 2004 and remained slightly better than its average of -9 since the survey started in December 1985.
The index stands at -47 among Democrats, its lowest level since November 1993, but +43 among Republicans, matching its highest point since November 2000.
According to the survey, 42 percent of respondents expressed confidence in the economy in the latest week, up one point from the week of July 11. The average peaked at 80 percent on Jan. 16, 2000, but bottomed out at 7 percent in late 1991 and early 1992.
Forty-one percent of those surveyed said it's an excellent or good time to buy things they want or need, down from 42 percent in the week earlier. The highest level of confidence in this category, 57 percent, was set on Jan. 16, 2000, and the worst, 20 percent, in the fall of 1990.
Opinions on personal finance rose one percentage point, as 57 percent of those polled said their finances are good or excellent, up from 56 percent the week before. The best was 70 percent on Aug. 30, 1998, which was matched in January 2000. The worst was 42 percent on March 14, 1993.
The ABC/Money consumer comfort index was based on a random survey of 1,000 respondents nationwide in the week ended July 18. The index measures typical Americans' confidence in three areas: the national economy, their own finances, and their willingness to spend money, according to the report.
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