Arlington, Va. - Consumer confidence in the overall economy
improved in October, according to the latest figures released today by the
Consumer Electronics Association (CEA) and CNET.
The CEA-CNET Index also shows confidence in consumer
spending on technology is down slightly from last month.
The CEA-CNET Index of Consumer Expectations (ICE) increased
for the third straight month to 167.1 in October. The ICE, which measures
consumer expectations about the broader economy, rose 3.7 points but remains
down seven points from this time last year.
"Consumer sentiment in the overall direction of the economy
is slowly shifting," said Shawn DuBravac, CEA chief economist and director of
research in a prepared statement. "Uncertainty remains pervasive but the
overall sentiment has risen three consecutive months showing that consumers are
seeing marginal improvement in their economic outlook."
The CEA-CNET of Consumer Technology Expectations (ICTE) is
down from last month. The ICTE, which measures consumer expectations about
technology spending, fell 1.6 points to 79.3. ICTE remains at the same level as
one year ago.
"As we move into the important holiday season, the consensus
view for holiday retail remains tepid, consistent with a mired sentiment.
However, tech continues to show resiliency," said DuBravac. "We expect consumer
tech retail sales will be the leading category within overall holiday sales."
CEA's 17th Annual CE Holiday Purchase Patterns
, released last week, shows that interest in
electronics this holiday will be at an all-time high. Consumers will spend $232
on CE gifts, up five percent from last year and the highest level since CEA
began tracking holiday spending. Nearly a third of consumers' total gift
budgets will be allocated to CE. The study found consumers will spend an average
of $1,412 this holiday, including $750 on gifts. Notebook/laptop computers, the
iPad and eReaders are among the most wanted gifts this year.
The CEA-CNET 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 and CNET have been tracking
index data since January 2007. To find current and past indexes, charts,
methodology and future release dates, log on to: CEACNETindexes.org
Arlington, Va. - Consumer confidence in the overall economy improved in October, according to the latest figures released today by the Consumer Electronics Association (CEA) and CNET.