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 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) 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.
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.
to Daily News