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Consumer confidence barely moves
ABC/'Money' poll shows confidence matches all-time average, one week before Republican convention.
August 24, 2004: 6:41 PM EDT

NEW YORK (CNN/Money) - Consumer confidence stood at its all-time average a week before the opening of the Republican National Convention in New York City, leaving questions about whether President Bush has done a decent job reviving the U.S. economy in the past four years, a report said Tuesday.

The ABC/Money magazine consumer comfort index rose a point from last week to -9 for the week ended Aug. 22, 2004. The comfort level matched its 18-year average and has been treading around the current level for the past month. The survey began tracking confidence in December 1985.

In 2004, the index reached as low as -20 and as high as -3 on the scale of +100 and -100.

Measured separately, 38 percent of respondents expressed confidence in the economy in the latest week, down from 39 percent in the week of Aug. 15. The average peaked at 80 percent on Jan. 16, 2000, but bottomed out at 7 percent in late 1991 and early 1992.

When asked whether it's a good time to buy things they want or need, 39 percent of those asked said "yes," which is unchanged from the previous week. The highest level of confidence in this category, 57 percent, was set on Jan. 16, 2000; the worst, 20 percent, in the fall of 1990.

Opinions on personal finance rose -- 59 percent of those polled said their finances are good or excellent, two percentage points higher than the week before. The highest was 70 percent on Aug. 30, 1998, which was matched in January 2000. The lowest was 42 percent on March 14, 1993.

The consumer comfort index, formulated by ABC News and Money magazine, was based on a random survey of 1,000 respondents nationwide in the week ended Aug. 22. 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.  Top of page




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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.