Consumer confidence in technology improved in August, according to the latest CEA Index released today by the Consumer Electronics
Confidence in the overall economy, however, dropped to its lowest
level of the year.
Consumer's expectations for technology spending rose more than four
points in August. The CEA Index of Consumer Technology Spending
(ICTE) reached 84.4, an increase of 4.6 points. The ICTE, which
measures consumer expectations about technology spending, is at its
highest level since January and up 4.6 points from this time last
"Consumers continue to show interest in spending on technology
despite an uncertain economic outlook," said Shawn DuBravac, CEA?s
chief economist and director of research. "As consumers pull back
spending in other categories, technology continues to benefit."
Consumer confidence in the overall economy dropped for the fourth
straight month. The CEA Index of Consumer Expectations (ICE), which
measures consumer sentiment about the broader economy, dropped 0.3
points to 158.8. That?s the lowest level since reaching an all-time
low of 157.8 in August of 2010.
"Consumer sentiment continued to fall this month as unrest with the
economic landscape and volatility in the financial markets grew,"
said DuBravac. "Interestingly, despite the instability on Wall
Street, consumers are showing some optimism that things will improve
over the next year."
The CEA Indexes comprise 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 has been tracking index data
since January 2007.