Arlington, Va. — Consumer sentiment towards the economy reached its highest level this year in August, according to the latest figures released today by the Consumer Electronics Association.
The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, increased by 1.2 points from last month to reach 172.5 in August.
“U.S. consumers appear to be brushing off geopolitical concerns that are hampering sentiment in Europe and elsewhere,” said Shawn DuBravac, CEA’s chief economist and research senior director. “Despite continued softness in the housing market, fundamentals of the economy are slowly strengthening thanks to an improving labor picture and signs of positive economic growth into the close of the year.”
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, decreased by 4.8 points in August to reach 90.5.
“While tech sentiment dropped on a sequential basis, it remains nearly 5 percent above the August average for the past three years. This is a positive sign, as we head into the back half of the year,” said DuBravac. “With new product announcements expected in September, we should see consumer sentiment about tech spending remain above average.”