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Consumer confidence in consumer electronics moved up sharply in June, although confidence in the overall economy dropped to its lowest point since July 2008, according to the latest figures released from the Consumer Electronics Association and CNET.
The CEA-CNET Index of Consumer Technology Expectations (ICTE) climbed in June to 82.7, up 11.2 points from last month but still down 1.7 points from this time last year. The ICTE measures consumer expectations about technology spending.
"Traditionally, the summer has been a strong time for tech spending. The recent news about the new iPhone and upgrades to video game consoles may have sparked renewed interest in tech among consumers,” said Anne Claudio, vice president of research at CBS Interactive.
The CEA-CNET Index of Consumer Expectations (ICE) fell 1.4 points from last month to 162.8 points this month, its lowest point since July 2008, when it was 162.2 points. The ICE measures consumer expectations about the broader economy. It is down nearly twelve points from this time last year.
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