Consumer Confidence Increases in May, says CEA-CNET Indexes May 29, 2009

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Consumer confidence in the overall economy moved up sharply in May, according 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.

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 more than 11 points year-over-year.

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 8% higher than the same period last year.

The CEA-CNET Indexes are comprised of the ICE and the ICTE, both of which are updated on a monthly basis through consumer surveys.

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