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CE Spending Plans Hit Two-Year High: CEA

11/24/2009 11:24:15 AM Eastern

Arlington, Va. - Consumer intentions to purchase CE products have hit the highest level
in nearly two years, according to the latest Consumer Electronics Association
(CEA)-CNET Index figures.

The CEA-CNET Index of
Consumer Technology Expectations (ICTE), produced by the CEA and CNET, measures
consumer expectations about technology spending. According to figures released
today, the index reached 93.5, the highest level of the index since tracking
began in January 2007.

The ICTE also saw the
largest sequential increase in the history of the index, climbing more than 14
points from October and more than 9 points from this time last year.

"This holiday shopping
season is shaping up to be a digital one with consumers looking to purchase
technology gifts," said CEA chief economist and research director Shawn
DuBravac. "November's index results show consumers are eagerly anticipating
purchasing electronics on Black Friday and during the rest of the holiday
shopping season even with a difficult overall economic picture."

The figures support CEA's
recent 16th Annual CE Holiday Purchase
Patterns Study, which found that 80 percent of individuals want consumer
electronics as a gift this holiday, the highest results in the history of the
study.

The increase in CE demand
comes as consumer confidence in the overall economy continued to decline. The
CEA-CNET Index of Consumer Expectations (ICE), which measures consumer
expectations about the broader economy, fell to 165.3 this month, the lowest
level since July 2008. The index is down nearly 9 points from last month and off
more than 4 points from this time last year.

"Consumers continue to
worry about the overall direction of the economy," DuBravac observed. "Concerns
over a still-declining job market and personal financial health persist among
many Americans."

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