Arlington, Va. - Consumer confidence in the overall economy improved, while confidence in technology and consumer electronics fell slightly in October, according to the latest figures from the Consumer Electronics Association (CEA) and CNET.
This report is in sharp contrast with today's Conference Board report, which indicated that consumer confidence of the current economic situation reached a 26-year low in October.
The CEA-CNET Index of Consumer Expectations (ICE) climbed five points to 174.1 in October. The ICE, which measures consumer expectations about the broader economy, is up 10.4 points from this time last year, and has climbed in three of the last six months.
The CEA-CNET Index of Consumer Technology Expectations (ICTE) declined four points this month. The ICTE, which measures expectations for buying CE and spending more on CE products and services, is up 3.1 points from this time last year.
"With the holiday shopping season right around the corner, consumers are still being cautious towards spending," said Anne Claudio, research VP at CBS Interactive. "Continued good news on the economy will drive spending in many categories, including technology, as consumers look to enjoy the holidays."
The CEA-CNET Indexes are comprised of the ICE and the 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.