Post-ABC CCI: Consumer Comfort Continues On a Slide
Amid mixed economic news, a soaring stock market and near-record high gas prices, consumer confidence fell again this week, dipping to a new low for 2007.
The Washington Post-ABC News Consumer Comfort Index (CCI) now stands at -13 on its scale of -100 to +100. It is now at its lowest point since October and four points below its long term average in weekly surveys since 1985.
The Post-ABC CCI is based on Americans' perceptions of the national economy, their personal finances and the buying climate. Ratings on all three components of the index are down from three weeks ago, when the index was 10 points higher than it is now.
Increased gas are a likely culprit, with the public's assessments of the national economy and the buying climate both sharply more negative since gas prices began their steep ascent in late January. The average cost of a gallon of gasoline is up $1.04 since that time.
More information about the Post-ABC CCI, including full methodological details, is available here.
Gas Prices and Economic Indices, Monthly Averages:
| Gasoline Cost per Gallon | Post-ABC Overall CCI | Post-ABC CCI Economy Index | Post-ABC CCI Buying Index | ||
|---|---|---|---|---|---|
| February | $2.28 | -1 | -7 | -21 | |
| March | $2.56 | -2 | -11 | -18 | |
| April | $2.85 | -6 | -14 | -25 | |
| May | $3.15 | -8 | -18 | -30 | |
| THIS WEEK | $3.21 | -13 | -22 | -34 | |
By
Jennifer Agiesta
|
May 29, 2007; 5:35 PM ET
Categories:
Post-ABC Consumer Comfort Index
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