POLL: Economic Gloom Runs Strong Two Months from Election Day

Sept. 9, 2008— -- The election campaign enters its post-Labor Day sprint with the economy dominating the political landscape and consumer confidence within striking distance of its record low in 22 years of ABC News polls.

ABC's Consumer Comfort Index stands at -47 on its scale of +100 to -100, the same as last week and 4 points from its lowest on record, -51 in May. Just 14 percent of Americans rate the national economy positively, 21 percent call it a good time to buy things and 45 percent say they their own finances are good, tying the year's low.

Other economic indicators are troubling as well. Unemployment's topped 6 percent for the first time in five years, the federal government's seized mortgage-finance giants Fannie Mae and Freddie Mac and gas prices, while down the past two months, are nonetheless at $3.65 a gallon, 29 percent higher than a year ago.

In a separate ABC News/Washington Post poll on the election, 41 percent of registered voters call the economy the single most important issue in their choice for president, consistent all summer long. With a bounce from the Republican National Convention, John McCain has narrowed Barack Obama's advantage in trust to handle the economy from 11 points to just 5 points.

INDEX – The CCI is based on Americans' ratings of their finances, the national economy and the buying climate. As noted just 14 percent rate the economy positively, down 17 points from the start of the year and 25 points below the long-term average.

Forty-five percent rate their personal finances positively, a tie for this year's lowest, reached last week and in late May, and just 3 points off the record low in March 1993.

In the third measure, fewer than a quarter of Americans have rated the buying climate positively for a record 22 weeks straight. Today's 21 percent is 3 points below the 2008 average, and 17 points from the average in weekly polls since late 1985.

TREND – The index fell from -20 at the beginning of the year to -51 in late May, gained a bit then headed back down. It's stagnated since late July, hovering between -47 and -50. The CCI's -40 for the year so far is just 4 points from its worst full year, 1992.