NEW YORK (CNN/Money) -
Consumer confidence fell last week to its lowest level in five months, according to the ABC News/Money magazine Consumer Comfort Index.
After hovering between -4 and -7 since late April, the index, based on gauges of current economic conditions, fell to a level of -8 in the week ended July 14, its lowest since Feb. 17's score of -10.
In the latest survey, 37 percent of Americans said the U.S. economy is in good shape, down three points from the previous week. The best was 80 percent on Jan. 16, 2000, and the worst was 7 percent in late 1991 and early 1992.
The study also concluded that 61 percent of Americans rated their personal finances as excellent or good, up one point from the week ended July 7. The best showing was 70 percent in the week of Aug. 30, 1998. The worst rating was 42 percent on March 14, 1993.
Also, 40 percent of the survey participants said it's an excellent or good time to buy things they want and need, down one point from the previous weekly poll. The best was 57 percent from the week of Jan. 16, 2000. The worst happened in the fall of 1990 with 20 percent.
The index was as low as -13 in February 2002, and then advanced sharply to +1 in late March before faltering. It peaked at +38 in January 2000.
The ABC News/Money magazine survey represents a rolling average based on telephone interviews with about 1,000 adults nationwide each week. This week's results are based on 1,020 interviews in the month ended July 14, 2002 and have an error margin of plus or minus 3 percentage points.
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