U.S. overall consumer confidence rose last week, according to an ABC News/Washington Post poll released Tuesday.
The consumer comfort index rose 1 point to -51 in the week ended Dec. 15, from -52 a week earlier. According to the survey, 7% of respondents expressed confidence in the economy, down from 8% the week before. Also, 44% of those polled said their own finances were in good standing, up from 43% in the prior week.
In assessing the buying climate, 22% of respondents said it was good, up from 21% a week earlier. The consumer comfort index was based on a random survey of 1,000 respondents nationwide in the four weeks ending Dec.
15. The index measures typical Americans' confidence in three areas: the national economy, their own finances, and their willingness to spend money, according to the report. The poll has a margin of error of plus or minus three percentage points.
The index is derived by subtracting the negative response to each index question from the positive response to that question. The three resulting numbers are added and divided by three. The index can range from 100 (everyone positive on all three measures) to -100 (all negative on all three measures). The survey began in December 1985.
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