Confidence Is Emerging From Spring Doldrums

Consumer confidence continued to climb this week from its recent lows, regaining its best level since April after falling sharply in the face of rising gasoline prices.

The ABC News/Washington Post Consumer Comfort Index stands at -10 on its scale of +100 to -100, up nine points in five weeks to its best level since late April. It had dropped from -7 in mid-April to -19 in late May as gas prices jumped to an average $2.95 a gallon. With gas moderating ($2.87 this week), it's now made most of that back.

INDEX -- The weekly ABC/Post index is based on Americans' ratings of the national economy, the buying climate and their personal finances. Thirty-nine percent now rate the economy positively and 38 percent call it a good time to buy things, each up six points in the past five weeks. Fifty-eight percent say their finances are good, relatively steady the past two months.

TREND -- The CCI peaked twice this year at -7, most recently in April, then fell sharply to -19 on May 21 before heading back up. At -10 it's back near its long-term average, -9, in weekly polls since December 1985. The index has averaged -12 this year. It's ranged from an all-time high of +38 in January 2000 to an all-time low of -50 in February 1992.

GROUPS -- As usual, the index is higher in better-off groups. It's +28 among higher-income Americans while -40 among those with the lowest incomes, +5 among college graduates while -41 among those who haven't finished high school, -6 among whites but -30 among blacks and -3 among men while -16 among women.

Regionally, the CCI is highest in the West, +6, compared with -11 in the Midwest, -15 in the South and -18 in the Northeast. It remains far higher among Republicans (+23) than among independents (-16) or, particularly, Democrats (-30).

Here's a closer look at the three components of the ABC/Post CCI:

NATIONAL ECONOMY -- Thirty-nine percent of Americans rate the economy as excellent or good; it was 37 percent last week. The highest percentage of Americans rating the economy excellent or good was 80 percent on Jan. 16, 2000. The lowest was 7 percent in late 1991 and early 1992.