American consumers' confidence fell to match its 2007 low in the latest week and expectations for an improved economy plunged to a 16-year low as market turmoil, higher energy prices and slow retail spending rattled views on the economy, separate polls showed on Tuesday.
The ABC News/Washington Post Consumer Comfort Index fell to -24 in the week ended Jan. 13, marking a 23-week run in negative double digits. This matches a reading from six-weeks ago, the 2007 low and down from -20 a week earlier.
The index ranges from -100 to +100 and its 2007 average was -11.
The news outlets said in a statement the low index reading was concurrent with slow retail spending in December, continued turmoil in stock, credit and housing markets and steadily high energy prices.
In a separate monthly gauge of expectations, only 5 percent of Americans say the economy is getting better, the fewest since December 1991, during the recession. Sixty-five percent say the economy is getting worse.
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