CNN/Money One for credit card only hard offer form at $9.95 One for risk-free form at $14.95 w/ $9.95 upsell  
CNNMoney.com
News > Jobs & Economy
graphic
Poll: Economic pessimism eases
ABC/Money index shows that consumer confidence holds steady after presidential election.
November 16, 2004: 6:39 PM EST

NEW YORK (CNN/Money) - Economic pessimism has eased on the heels of the 2004 presidential election, with the number of Americans who say the economy's worsening falling to the lowest in 10 months, a survey said Tuesday.

The ABC News/Money magazine Consumer Comfort Index stands at -6 on its scale of +100 to -100, unchanged from the previous week. The index rose 6 points in the week prior to the Nov. 2 election.

Thirty-three percent in the latest poll say the economy is getting worse, an improvement from 42 percent the prior month. It was the best reading since January, 2004.

The overall index is comprised of Americans' views on the economy, personal finances and the buying climate. Here's a closer look at each of the three components.

Forty-three percent of Americans rate the nation's economy as excellent or good, up from 41 percent a week before. Consumer confidence in this category peaked at 80 percent on Jan. 16, 2000 and bottomed out at 7 percent in late 1991 and early 1992.

Americans' confidence in their own finances also improved slightly, as 58 percent rate their fiscal health as excellent or good, up from 57 percent last week. The highest level of confidence for this category, 70 percent, was set on Aug. 30, 1998, and matched in January 2000. The worst, 42 percent, was set March 14, 1993.

But the survey's buying gauge fell as 40 percent of respondents say it's an excellent or good time to buy things, down from 42 percent last week. Consumer confidence in this category hit a high of 57 percent on Jan. 16, 2000 and a low of 20 percent in Fall 1990.

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. This week's results are based on 1,000 interviews in the month ended Nov. 14 2004, and have an error margin of plus or minus three percentage points.  Top of page




  More on NEWS
Banker's bonuses: 40% bigger this year
Sprint to slash up to 2,500 jobs
Electric Cadillac may be on the way
  TODAY'S TOP STORIES
Dow surges to 13-month high
Go the distance - Dividends for the long run
Sprint to slash up to 2,500 jobs




graphic graphic

© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.