The ABCNEWS/Money Consumer Comfort Index stands at +2 on its scale of +100 to -100, six points higher than it was the week of the suicide attacks on targets in New York and suburban Washington. Even more significant is its change in direction: The index declined by 11 points from Aug. 12 to Sept. 9. But it reversed course after the terrorist attacks.
One likely reason is the broader rally-around effect since the international crisis began. And three important elements of consumer confidence — inflation, interest rates and incomes — have held steady since Sept. 11.
The ABCNEWS/Money index is based on public ratings of the economy, personal finances and the buying climate.
Forty-five percent rate the economy positively this week, up two points since the attacks. And 43 percent rate the buying climate positively, up three points. Positive ratings of personal finances remain particularly strong, at 65 percent, up four points since the attacks and only five points from the record for this indicator in nearly 16 years of polling.
All 1,000 interviews for this week's ABCNEWS/Money survey were conducted after Sept. 11. Almost all were completed before the U.S.-led airstrikes on Afghanistan began on Sunday.
Positive Ratings of … |
| |
10/09/01 |
9/30/01 |
9/16/01 |
9/9/01 |
| National Economy |
45% |
44% |
46% |
43% |
| Buying Climate |
43% |
43% |
40% |
40% |
| Personal Finances |
65% |
62% |
62% |
61% |
|
|
Confidence is still well below its level at the beginning of the year. The ABCNEWS/Money magazine Consumer Comfort Index started the year at +23 but fell seven points in one week later in January (tying the one-week record), six points in one week in February, five points in one week in March and another five points in one week in April.
ABCNEWS/Money Index |
| Today |
+ 2 |
| Last week |
+ 1 |
| Sept. 9 |
- 4 |
| Jan.
7, 2001 |
+ 23 |
| 2001 Average |
+ 7 |
| Jan.
16, 2000 |
+ 38
Record high |
| 2000
average |
+ 29
Best full year |
| 1992
average |
-
44 Worst full year |
| Feb. 9, 1992 |
- 50 Record low |
| Average since 12/85 |
- 8 |
| |
A Closer Look
As usual, confidence is higher among better-off Americans. The index is +15 in higher-income households compared to -26 in the lowest, +12 among college graduates while -15 among high-school dropouts, +8 among whites but -40 among blacks and +10 among men while -6 among women..
Here's a closer look at the three components of the ABCNEWS/Money index:
NATIONAL ECONOMY — Forty-five percent of Americans rate the nation's economy as excellent or good, down one point from last week. The best was 80 percent Jan. 16, 2000. The worst was seven percent in late 1991 and early 1992.
PERSONAL FINANCES — Sixty-five percent rate their own finances as excellent or good, up three points from last week. The best was 70 percent, set Aug. 30, 1998 and last matched in January 2000. The worst rating was 42 percent on March 14, 1993.
BUYING CLIMATE — Forty-three percent say it's an excellent or good time to buy things they want and need, unchanged from last week. The best was 57 percent Jan. 16, 2000. The worst was 20 percent in fall 1990.
Methodology
The ABCNEWS/Money magazine Consumer Comfort Index represents a rolling average based on telephone interviews with about 1,000 adults nationwide each month. This week's results are based on 1,015 interviews in the month ending Oct. 10 and have an error margin of plus or minus 3 percentage points. Fieldwork was conducted by ICR-International Communications Research of Media, Pa.
The ABCNEWS/Money index is derived as follows: The negative response to each index question is subtracted from the positive response to that question. The three resulting numbers are then 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.
Previous ABCNEWS polls can be found in our Poll Vault.
|
PRINT THIS PAGE
VIEW MOST EMAILED