The good news is, consumer confidence has been rising for the past six weeks, as measured by the ABC Consumer Comfort Index. The bad news is that, even after this sustained rise, it can still be at its current dismal level.
On a scale from -100 (horrific) to +100 (wonderful), it now stands at -41, which means it’s “a whopping 31 points below its long-term average in 22 years of weekly polls,” as ABC News says in its analysis of the data. But that’s still better than the -51 at which it stood in late May. The index figure was a shade lower this week for men than for women. Typically, men are more confident (or less despondent).
Twenty-three percent of those polled for the index said it is now an excellent or good time to buy things. That’s just four percentage points above the all-time low, which was reached in two different weeks in May. The average since December 1985 is 38 percent.