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Consumer Confidence Steadied In December: CEA

12/22/2009 01:01:26 PM Eastern
Arlington, Va. - Consumer confidence in the overall economy remained level in December, although confidence in consumer electronics declined from last month's record high, according to figures released today by the Consumer Electronics Association (CEA)and CNET ( www.cnet.com ).

Nevertheless, consumer confidence in technology products stands at the second-highest level of the year, CEA said.

The CEA-CNET Index of Consumer Expectations (ICE) reached 165.2 in December, unchanged from November. The ICE, which measures consumer expectations about the broader economy, is down 2.7 points from this time last year.

"Consumers remain concerned about the overall health of the economy and are keeping a close eye on spending," said Anne Claudio, research VP at CBS Interactive. "Instability in market forces continues to drive consumers' worries about their own personal financial stability and will impact consumer spending now and potentially into 2010."

Consumer confidence in technology and CE dropped nearly seven points this month to 86.8. However, the CEA-CNET Index of Consumer Technology Expectations (ICTE), which measures consumer confidence in technology and consumer electronics, is also up 8.5 points from this time last year.

"Many consumers purchased their electronics on Black Friday when manufacturers and retail stores offered deep discounts," Claudio said. "Consumer electronics remain a must-have gift this holiday and a bright spot in the overall economy."

The CEA-CNET Indices are comprised of the ICE and ICTE, both of which are updated on a monthly basis through consumer surveys. To find current and past indexes, charts, methodology and future release dates, visit www.CEACNETindexes.org.
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