Consumer Confidence Increases in August, says CEA-CNET Index Aug 26, 2009

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Consumer confidence in the overall economy improved in August, as consumer confidence in technology and consumer electronics (CE) jumped in the same period, according to the latest figures from the Consumer Electronics Association (CEA) and CNET.

The CEA-CNET Index of Consumer Expectations (ICE) reached 172.2 in August, a jump of more than six points from July's yearly low. The ICE, which measures consumer expectations about the broader economy, is up six and a half points from this time last year and has climbed in three of the last four months.

The CEA-CNET Index of Consumer Technology Expectations (ICTE) also climbed this month. The ICTE reached 78.2, an increase of more than one and a half points from July. The ICTE, which has climbed in four of the past five months, shows that expectations for buying CE and spending more on CE products and services both went up in August. The ICTE remains down more than six points from this time 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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