NEW YORK (CNN/Money) -
Consumer confidence regained some strength last week after lingering at a nine-year low for three weeks, but sentiment remained somewhat weak, a survey said on Tuesday.
The ABC News/Money magazine Consumer Confidence Index, comprised of views on the national economy, personal finance and buying climate, rose 4 points to -23 on a basis of positive 100 to negative 100 for the week ended Feb. 9, 2003.
The survey, however, said the buying climate failed to advance last week due to rising gasoline prices. The average price of a gallon of gasoline nationwide shot up more than 11 cents in the previous two weeks, according to a survey published on Sunday.
Measured separately, views on the buying climate fell 1 percentage point, as 32 percent of those polled said now is a good time to buy things they want or need.
Twenty-eight percent of Americans said the U.S. economy is in good shape, four points higher than the previous week. The best figure in this category was 80 percent, set on Jan. 16, 2000.
The study also concluded that 55 percent of Americans said their personal finances are in good shape, compared with 52 percent in the week ended Feb. 2, 2003. The best showing was 70 percent in the week of Aug. 30, 1998.
The ABC News/Money magazine Consumer Confidence index represents a rolling average based on telephone interviews with about 1,000 adults nationwide each month. The latest week's results are based on 1,006 interviews in the month ended Feb. 9 and have a margin of error of plus or minus three percentage points.
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