Published On: July 27, 2010

Consumer Confidence in Economy and Tech Drops, According to CEA-CNET Indexes

Published On: July 27, 2010

Consumer Confidence in Economy and Tech Drops, According to CEA-CNET Indexes

Given all the aggravation quite a few people are having with their personal finances, a bout of pessimism isn't too surprising, and that's what was indicated in an index report from the Consumer Electronics Association (CEA) and CNET

CEA-Logo.gifConsumer confidence in the economy reached its lowest level in the history of the CEA-CNET Index in July, while confidence in technology dropped slightly, according to figures released today by the Consumer Electronics Association (CEA) and CNET. The CEA-CNET Index of Consumer Expectations (ICE) fell to 157.3 this month, an all-time low. The indexes began tracking in January 2007. The ICE, down 5.5 points from last month, measures consumer expectations about the broader economy. It is down more than eight points from this time last year.

"The overall mood of consumers continues to be cautious," said Anne Claudio, vice president of research at CBS Interactive. "A variety of factors are weighing heavily on consumers and their feelings towards the economy."

Consumer confidence in technology showed a slight decrease this month. The CEA-CNET Index of Consumer Technology Expectations (ICTE) fell more than half of a point to 82. The ICTE, which measures consumer expectations about technology spending, is up 5.4 points from last year.

"Although there were several new and innovative technology products launched this month, consumers seem uncertain about purchasing consumer electronics," said Claudio. "This may be a wait-and-see approach, as parents and children prepare for the school season and may purchase more for necessity rather than luxury."

The CEA-CNET Indexes are comprised of the ICE and ICTE, both of which are updated on a monthly basis through consumer surveys. New data is released on the fourth Tuesday of each month. CEA and CNET have been tracking index data since January 2007. To find current and past indexes, charts, methodology and future release dates, please log on to: CEACNETindexes.org.

Subscribe To Home Theater Review

You'll automatically be entered in the HTR Sweepstakes, and get the hottest audio deals directly in your inbox.
When you buy through links on our site, we may earn an affiliate commission. Your support is greatly appreciated!
© JRW Publishing Company, 2020
magnifiercross linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram