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Economic Confidence Up

4/27/2010 12:45:40 PM Eastern
Arlington, Va. - Confidence in the economy is up, but confidence in tech is down in April, according to a Consumer Electronics Association (CEA) and CNET March survey.

The confidence in technology dropped to its lowest level March 2009, according to the survey.

The CEA-CNET Index of Consumer Expectations (ICE) rose to 164.1 points in April, an increase of more than one point.  The ICE, which measures consumer expectations about the broader economy, is down more than four points from this time last year.

 "Although there was a small improvement from last month's lowest point of the year, the figures still reflect consumers' hesitation towards the overall economy," said Claudio. 

The CEA-CNET Index of Consumer Technology Expectations (ICTE) fell in April to 72.3, down more than 11 points from last month.  The ICTE is at its lowest level since reaching an all-time low in March 2009.  The ICTE is down more than five points from this time last year.

"With tax season causing everyone to take a look at their finances, consumer reluctance to spend their disposable income is expected," said Anne Claudio, research VP at CBS Interactive.   "New technologies such as the iPad, 3DTV and IPTV are entering the market and creating excitement but may also be contributing to consumers' current wait and see approach."

The CEA-CNET Indexes are comprised of 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 www.CEACNETindexes.org.
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