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THE ECONOMY.(TO THE POINT)

Investor's Business Daily

| January 03, 2002 | COPYRIGHT 2002 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

ISI company survey index climbs

International Strategy & Investment's index rose to 39.0 in the Dec. 28 week from 36.5 the week before. Retail and shipping lifted the index, while banking and autos weakened. "Retailers reported sales came late as predicted and boosted the holiday sales period the last few days prior to Christmas," ISI said.

ABC News/Money Magazine poll:

Consumers are grimmer than ever

The consumer comfort index dived to -13 in the Dec. 30 week from -11 the week before. This is a new low for this cycle, but far better than the -50 it notched in the '90-91 recession. Consumers are especially glum about the economy, but are less gloomy about their finances.

Last-minute buys didn't lift stores

Heavy discounts and Christmas promotions boosted sales at chain stores last week, but not enough to offset a dismal Dec. for most retailers. Sales rose 0.9% in the week ended Dec. 29, the Bank of Tokyo-Mitsubishi said, after a 2.9% gain the prior week. BTM projects only a 1% rise in Dec. same-store sales.

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