New Economy companies aren’t just losing in the stock market. They also appear to be losing in the hearts and minds of finicky American consumers, The Wall Street Journal is reporting today..

That is one message in the latest installment of the American Customer Satisfaction Index, a national measure of consumer attitudes, reports the WSJ. It shows that shoppers are happier with Old Economy products such as automobiles and household appliances than they are with New Economy personal computers and cable-television services that offer hundreds of channels.

The index, scheduled for release Monday by the University of Michigan Business School, focuses on specific segments of the economy each quarter. Previous surveys have measured nondurable manufacturing, services, the federal government and retail trade. The results for the second quarter left the overall index, a running tally of the different sectors, little changed at 72.1 from 72.2 for the first quarter.

The latest reading suggests that the notable erosion of consumer satisfaction that occurred at the end of 2000 and the beginning of this year has slowed for now. Economists at the University of Michigan say that means consumer spending, a pillar of the economy, may stabilize at its current rate of modest growth during the months ahead.

The University of Michigan’s Claes Fornell, who is in charge of the survey, says that satisfaction and spending are closely linked. Other economists don’t believe the link is clear on a national level, although they say differences among companies in the same industry do help determine who wins market share.

The industry breakdowns in the latest survey provided some surprises. ACSI scores for the computer industry declined 4.1% from 74 for the first quarter to 71, the lowest level since 1998. Every computer maker in the survey took a hit. Although personal computers have become faster, more powerful and cheaper, some industry executives admit that computer companies may not be doing enough to help consumers learn how to use their machines.