Arlington, Va. - Consumer
sentiment in the overall economy is at its lowest point in the history of the
CEA Indexes, the Consumer Electronics Association (CEA).
Consumer confidence in technology spending also fell in
For the fifth consecutive month, consumer confidence in the
overall economy has dropped, now to its lowest level in the history of the CEA
Indexes, which began tracking in January 2007.
In September the CEA Index of Consumer Expectations (ICE)
fell to 156.8, down two points from last month and 6.5 points lower than this
time last year.
"Sentiment took another step down in September as deep drops
in equity prices stymied any hope of a return of consumer optimism," said Shawn
DuBravac, CEA's chief economist and research director. "The ensuing European
debt crisis and the news of additional quantitative easing have consumers mired
Consumer confidence in technology also fell in September.
After strong gains last month, the CEA Index of Consumer Technology
Expectations (ICTE), which measures consumer expectations about technology
spending, dropped 2.5 points this month to 81.9. The ICTE is at its lowest
level since May 2011, but remains up a point from this time last year.
"CEA's proprietary sentiment indicators have been very
consistent and accurate this year, predicting a decline in the economy well in
advance of other metrics," said DuBravac.
"Consumer sentiment has fallen throughout the year as the
economic picture has weakened, but a dichotomy continues to exist between
consumer sentiment and consumer behavior. While consumers continue to lower
their household debt levels and avoid making some large purchases, retail sales
and consumer spending have held up. Some segments of consumer tech, like tablet
computing, continue to garner consumer dollars."
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. To find current and past indexes, charts, methodology and future
release dates, log on to http://ceaindexes.org.