ARLINGTON, USA: Consumer confidence in the overall economy dropped in July to its lowest level this year, according to the latest data from the Consumer Electronics Association (CEA) and CNET.
The CEA-CNET Indexes also showed that consumers’ confidence in technology and consumer electronics (CE) declined this month.
The CEA-CNET Index of Consumer Expectations (ICE) slumped to 165.9 ending two consecutive months of positive gain. The ICE, which measures consumers’ confidence in the overall economy, is down nearly nine points from June and is at its lowest level since October 2008.
“Consumers faced a setback this month with the latest economy news,” said Anne Claudio, vice president of Research at CBS Interactive. “Recent unemployment figures hitting their highest level in 26 years, the rising cost of gasoline prices and declines in household net worth due to the housing market are causing consumers to feel hesitant about an economic recovery in the near term.”
Consumer confidence in CE and technology also fell to its lowest level in over a year. The CEA-CNET Index of Consumer Technology Expectations (ICTE) dropped to 76.6, a decrease of nearly eight points from last month. The ICTE, which measures consumer confidence in technology and consumer electronics, is down four points from this time last year.
“Consumer expectations around tech spending mirrored the decline in consumers’ confidence in the economy,” said Claudio. “With job employment concerns top of mind for many consumers, people are being cautious with their spending and could be saving for the back-to-school and holiday seasons.”
Showing posts with label CEA-CNET Indexes. Show all posts
Showing posts with label CEA-CNET Indexes. Show all posts
Wednesday, July 29, 2009
Consumer confidence falls in July to lowest level this year
ARLINGTON, USA: Consumer confidence in the overall economy dropped in July to its lowest level this year, according to the latest data from the Consumer Electronics Association (CEA) and CNET.
The CEA-CNET Indexes also showed that consumers’ confidence in technology and consumer electronics (CE) declined this month.
The CEA-CNET Index of Consumer Expectations (ICE) slumped to 165.9 ending two consecutive months of positive gain. The ICE, which measures consumers’ confidence in the overall economy, is down nearly nine points from June and is at its lowest level since October 2008.
“Consumers faced a setback this month with the latest economy news,” said Anne Claudio, vice president of Research at CBS Interactive. “Recent unemployment figures hitting their highest level in 26 years, the rising cost of gasoline prices and declines in household net worth due to the housing market are causing consumers to feel hesitant about an economic recovery in the near term.”
Consumer confidence in CE and technology also fell to its lowest level in over a year. The CEA-CNET Index of Consumer Technology Expectations (ICTE) dropped to 76.6, a decrease of nearly eight points from last month. The ICTE, which measures consumer confidence in technology and consumer electronics, is down four points from this time last year.
“Consumer expectations around tech spending mirrored the decline in consumers’ confidence in the economy,” said Claudio. “With job employment concerns top of mind for many consumers, people are being cautious with their spending and could be saving for the back-to-school and holiday seasons.”
The CEA-CNET Indexes also showed that consumers’ confidence in technology and consumer electronics (CE) declined this month.
The CEA-CNET Index of Consumer Expectations (ICE) slumped to 165.9 ending two consecutive months of positive gain. The ICE, which measures consumers’ confidence in the overall economy, is down nearly nine points from June and is at its lowest level since October 2008.
“Consumers faced a setback this month with the latest economy news,” said Anne Claudio, vice president of Research at CBS Interactive. “Recent unemployment figures hitting their highest level in 26 years, the rising cost of gasoline prices and declines in household net worth due to the housing market are causing consumers to feel hesitant about an economic recovery in the near term.”
Consumer confidence in CE and technology also fell to its lowest level in over a year. The CEA-CNET Index of Consumer Technology Expectations (ICTE) dropped to 76.6, a decrease of nearly eight points from last month. The ICTE, which measures consumer confidence in technology and consumer electronics, is down four points from this time last year.
“Consumer expectations around tech spending mirrored the decline in consumers’ confidence in the economy,” said Claudio. “With job employment concerns top of mind for many consumers, people are being cautious with their spending and could be saving for the back-to-school and holiday seasons.”
Tuesday, June 2, 2009
Consumer confidence jumps in May: CEA-CNET Indexes
ARLINGTON, USA: Consumer confidence in the overall economy moved up sharply in May, according to figures released by the Consumer Electronics Association (CEA). The CEA-CNET Indexes also show that consumers continue to feel more confident about future spending on technology and consumer electronics (CE).
The CEA-CNET Index of Consumer Expectations (ICE) climbed in May, reaching 174.6, up nearly six points from last month. The ICE, which measures consumers’ confidence in the overall economy, is at its highest level since February 2008 and up over eleven points year-over-year.
“We see significant indications that consumers believe an economic recovery is underway,” said Shawn DuBravac, CEA’s director of research and economist. “Consumers are showing increasing signs of optimism as both their outlook for the economy and their personal financial health improve.”
Confidence in technology and consumer electronics also reached its highest level of the year. The CEA-CNET Index of Consumer Technology Expectations (ICTE) climbed to 81.1, an increase of nearly four points from last month. The ICTE, which measures consumer confidence in technology and consumer electronics, is nearly eight percent higher than the same period last year.
“Consumer spending on technology appears to have bottomed,” said DuBravac. “While the economy continues to deteriorate, albeit at a slower rate, consumer spending generally and specifically consumer spending on technology are likely beginning to rebound, which is inline with the timing of consumer spending in past recessions.”
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.
Source: CEA, USA
The CEA-CNET Index of Consumer Expectations (ICE) climbed in May, reaching 174.6, up nearly six points from last month. The ICE, which measures consumers’ confidence in the overall economy, is at its highest level since February 2008 and up over eleven points year-over-year.
“We see significant indications that consumers believe an economic recovery is underway,” said Shawn DuBravac, CEA’s director of research and economist. “Consumers are showing increasing signs of optimism as both their outlook for the economy and their personal financial health improve.”
Confidence in technology and consumer electronics also reached its highest level of the year. The CEA-CNET Index of Consumer Technology Expectations (ICTE) climbed to 81.1, an increase of nearly four points from last month. The ICTE, which measures consumer confidence in technology and consumer electronics, is nearly eight percent higher than the same period last year.
“Consumer spending on technology appears to have bottomed,” said DuBravac. “While the economy continues to deteriorate, albeit at a slower rate, consumer spending generally and specifically consumer spending on technology are likely beginning to rebound, which is inline with the timing of consumer spending in past recessions.”
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.
Source: CEA, USA
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