Arlington, Va. – Depending upon the survey being followed,
consumer confidence was either up or down for September.
According to a study released on Sept. 28 by the Consumer
Electronics Association (CEA) and CNET, consumer confidence in the economy
climbed more than five points in September. Confidence in consumer electronics
rose slightly, by more than one point, as well.
However, the Conference Board’s Consumer Confidence Index
for September, also issued on Sept. 28, saw confidence fall to 48.5, down from
53.2 in August. The above figure is based on the organization’s measuring
system where a figure of 1985 equals 100 perent. The study is based on a sample
of 5,000 U.S. households and is updated monthly.
The CEA-CNET Index of Consumer Expectations (ICE) rose more
than five points in September to 163.4. The ICE, which measures consumer
expectations in the overall economy, has rebounded in the past two months since
the index reached an all-time low of 157.3 points in July. The ICE, however, is
down nearly six points from this time last year.
Lynn Franco, director of the Conference Board Consumer
Research Center, said, “September’s pull-back in confidence was due to less
favorable business and labor market conditions, coupled with a more pessimistic
short-term outlook. Overall, consumers’ confidence in the state of the economy
remains quite grim. And, with so few expecting conditions to improve in the
near term, the pace of economic growth is not likely to pick up in the coming
months.”
The Conference Board also stated more people in September,
46.1 percent, believe business conditions are bad, compared with 42.3 percent
in August.
The CEA/CNET study also found consumers feel more confident
about technology. The CEA-CNET Index of Consumer Technology Expectations
(ICTE), which measures consumer expectations about technology spending, is up
1.1 points from August. It’s down two points from this time last 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.
