### hot copper posters - it could be you? ###, page-2

confidence in u.s. economy sinks lower-abc/money Confidence in U.S. economy sinks lower-ABC/Money
June 15, 2004 6:30pm ET (Reuters)

NEW YORK, June 15 (Reuters) - With prices of food and gasoline rising, confidence in the U.S. economy slipped in the latest week and approached its worst level of the year, a report said on Tuesday.

ABC News and Money Magazine said their Consumer Comfort index fell for the fourth consecutive week, to -20, in the week ended June 13, from -19 in the previous week. The index stands only two points off its 2004-low reached in mid-March.

The slump in confidence coincided with mounting signs of rising inflation. Earlier on Tuesday a government report showed that surging energy and food costs in May propelled the largest monthly increase in consumer prices in over three years.

Consumers began to take closer notice of the effect of higher prices on their own bank accounts. Positive readings on the personal finances component of the index fell hardest in the latest week, down two percentage points to 52 percent.

Favorable readings on the index's buying climate component, which is particularly susceptible to gasoline prices, held steady at 34 percent.

Positive ratings on the economy ticked up one percentage point, to 34 percent.

The ABC/Money survey was based on about 1,000 interviews conducted in the month ending June 13. It has a margin of error of plus or minus three percentage points.