Poll: Consumer Confidence on Decline
Rising gasoline prices continued to weigh on overall consumer confidence in the United States last week, according to an ABC News/Money Magazine poll recently published in the Associated Press.
The poll's consumer comfort index fell two points to -18 in the week ended May 30 from -16 a week earlier, according to the report released. The poll has a margin of error of plus or minus three points.
According to the survey, positive views of the buying climate dipped to a 14-month low last week, with 34 percent of respondents saying it was a good time to buy, down from 35 percent a week earlier. That's the lowest level since March 2003, shortly after the start of the Iraq war.
Of those polled, 34 percent expressed confidence in the economy, down from 35 percent the week before. Also, 55 percent of those polled said their own finances were in good standing, down from 56 percent in the prior week.
The consumer comfort index is based on a random survey of 1,000 respondents nationwide that ended May 30. The index measures the typical American’s confidence in three areas: national economy, their own finances, and willingness to spend money.