Arlington, Va., - Consumer confidence in technology and consumer electronics jumped, while confidence in the overall economy fell slightly in September, according to the latest figures from the Consumer Electronics Association (CEA) and CNET.
The CEA-CNET Index of Consumer Technology Expectations (ICTE) climbed more than 6 percent this month. The ICTE reached 83, bringing it near its level from the same period last year. The ICTE, which has climbed in five of the past six months, shows that expectations for buying CE products and services and spending more on these purchases both went up in September.
"The disposition of consumers towards spending on technology is improving at the right time for retailers and manufacturers with the holiday shopping season approaching," said Shawn DuBravac, CEA's economist and director of research.
The CEA-CNET Index of Consumer Expectations (ICE) fell 1.7 percent to 169.3 in September. The ICE, which measures consumer expectations about the broader economy, is down 2.7 points from this time last year, but has climbed in three of the last five months.
"The overall mood appears mixed in September, as many consumers are still guarded in their optimism about the overall economy and their future economic health," said DuBravac. "Concerns over personal employment jumped significantly in September, driving the overall index lower."
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. Current and past indexes, charts, methodology and future release dates appear here.