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
Post-ABC Consumer Comfort Index
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Posted by: Janice Brown | May 31, 2007 1:58 AM
the way it looks from outside.
A madman cowboyed up and let his thugs lie us into invading another thug country, meanwhile cutting or freezing benefits for those who actually back up those fightin' words. they finally come clean 3500 deaths later and say we ARE going to be there forever and yet, no draft? wtf?
wall street takes profits, goes skyhigh, oil companies and any industry tied to war make more $$ than they know how to bribe with and most people cannot dream of owning their own home.
execs cheat and lie, then get paid golden parachutes so huge it could safely land NYC.
the car companies are in a panic and give away gas guzzling cars that consumers go upside down on and screw their credit rating, none too good to begin with, and then those darn cars break down because they are amurkin made and are suppposed to depreciate to fit the business model. now there are too many gas guzzlers to fill and each tank can reach $100!
it should be $1000 to cover the real costs but while we're worried about that, the constitution is being uses as toilet paper by junior staffers at the "white" house!
plus, the economic news is so skewed, you don't know what to believe, and consumers are barely making their expenses while no longer looking for jobs and when that number goes down, they think things are hunky dory!
now the broke unemployed or underpaid try and sell their cars on craigslist and find no one is stupid enough to buy their SUV. who has the $$ to fill the damn things up other than the oil execs who are laughing all the way to fort knox?
the top 1% has plenty to answer for IMHO and re-destributing wealth is the next step once repugs are gone from government.
equity, is that SO much to ask for?
Posted by: py | June 1, 2007 6:20 PM
Supply and Demand.The oil companies demand more money,so we supply it!
Posted by: akiezamg | June 2, 2007 9:00 AM
The comments to this entry are closed.
My experience leads me to feel that it isn't only the price of gasoline, but the continuing rise in all areas, especially health care and food. As someone on a fixed income, it is scary to see my buying power deminishing.
The obscene profits of the oil and phramasudical industries gives us a clue on who the present administration and Congress see as most important to them.