consumer confidence

Consumer Confidence Continues to Rise

Consumer confidence in the overall economy improved, while confidence in technology and consumer electronics fell slightly in October, according to the latest figures from the Consumer Electronics Association and CNET.

The CEA-CNET Index of Consumer Expectations (ICE) climbed five points to 174.1 in October. The ICE, which measures consumer expectations about the broader economy, is up 10.4 points from this time last year, and has climbed in three of the last six months.

“Consumers were met with positive news regarding economic recovery this month,” said Anne Claudio, vice president of research at CBS Interactive. “The stock market rallied to levels not reached in years while optimism is being expressed by economic leaders that the end of the recession is near.”

The CEA-CNET Index of Consumer Technology Expectations (ICTE) declined four points this month. The ICTE, which measures expectations for buying CE and spending more on CE products and services, is up 3.1 points from this time last year.

“With the holiday shopping season right around the corner, consumers are still being cautious towards spending,” said Claudio. “Continued good news on the economy will drive spending in many categories, including technology, as consumers look to enjoy the holidays.”

consumer confidence

Consumer Confidence Falls in July to Lowest Level This Year

Consumer confidence in the overall economy dropped in July to its lowest level this year, according to the latest data from the Consumer Electronics Association (CEA) and CNET. The CEA-CNET Indexes also showed that consumers’ confidence in technology and consumer electronics (CE) declined this month.

The CEA-CNET Index of Consumer Expectations (ICE) slumped to 165.9 ending two consecutive months of positive gain. The ICE, which measures consumers’ confidence in the overall economy, is down nearly nine points from June and is at its lowest level since October 2008.

“Consumers faced a setback this month with the latest economy news,” said Anne Claudio, vice president of Research at CBS Interactive. “Recent unemployment figures hitting their highest level in 26 years, the rising cost of gasoline prices and declines in household net worth due to the housing market are causing consumers to feel hesitant about an economic recovery in the near term.”

Consumer confidence in CE and technology also fell to its lowest level in over a year. The CEA-CNET Index of Consumer Technology Expectations (ICTE) dropped to 76.6, a decrease of nearly eight points from last month. The ICTE, which measures consumer confidence in technology and consumer electronics, is down four points from this time last year.

“Consumer expectations around tech spending mirrored the decline in consumers’ confidence in the economy,” said Claudio. “With job employment concerns top of mind for many consumers, people are being cautious with their spending and could be saving for the back-to-school and holiday seasons.”