11 April 2007, 16:14  ABC/Wash Post: US Consumer Confidence Dn 2 Pts Latest Wk

U.S. overall consumer confidence fell last week, according to an ABC News/Washington Post poll released Tuesday. The consumer comfort index fell two points to -7 in the week ended April 7, from -5 a week earlier. This marked the index's lowest level since late October 2006. According to the survey, 43% of respondents expressed confidence in the economy, down from 44% the week before. Also, 57% of those polled said their own finances were in good standing, down from 59% in the prior week. In assessing the buying climate, 39% of respondents said it was good, down from 40% a week earlier. The consumer comfort index was based on a random survey of 1,000 respondents nationwide ended April 7. 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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