NEW YORK - AMERICAN consumers' confidence improved slightly in the latest week, a report showed on Tuesday, but was still near the 14-year low of the previous two weeks with the economy showing more signs of distress.

The ABC News/Washington Post Consumer Comfort Index rose to -34 in the week ended March 2 from -37 in the past two weeks, which was its lowest reading since November 1993.

The news outlets cited the continuing housing market crisis, the high price of gasoline and a shaky stock market as the main reasons for the gloomy feeling of American consumers.

Positive views on the national economy and the buying climate both gained 2 percentage points to 22 per cent and 27 per cent respectively, while positive views on personal finances rose one percentage point to 50 per cent.

Confidence measures are generally viewed as a barometer of consumer spending, which accounts for two-thirds of the United States economy. However, economists note that consumers do not always act in accordance with their statements to surveys.

The ABC/Washington Post consumer confidence survey was based on a sample of about 1,000 interviews conducted in the four weeks ending March 2 and has a margin of error of plus or minus 3 percentage points. -- REUTERS

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