Consumer confidence in the overall economy increased in March to its highest level in more than a year, according to the Consumer Electronics Association (CEA) and CNET. Although consumers reported improved expectations for the broader economy, the CEA-CNET Indexes also show that technology spending continues to fall.
The CEA-CNET Indexes are comprised of the ICE and the ICTE, both of which are updated on a monthly basis through consumer surveys.
The CEA-CNET Index of Consumer Expectations (ICE) grew to its highest level since February 2008, reaching 173.1 in March. The ICE jumped nearly seven points from last month and ended three straight months of decline. The index, which measures consumer expectations about the overall economy, is also up nearly five points from this time last year.
While consumers are gaining confidence in the overall direction of the economy, confidence in CE and technology dropped for the fourth straight month. The CEA-CNET Index of Consumer Technology Expectations (ICTE) fell to 67.2, a drop of more than a point from last month, marking the lowest level of the ICTE since its inception in January of 2007. The ICTE, which measures consumers' confidence in consumer electronics and technology, is down more than 16 points from this same time last year.
to Daily News