Consumer confidence in the economy increased by half a point in August, according to figures from the Consumer Electronics Association (CEA) and CNET. Confidence in consumer electronics fell more than two points to 79.8, but remains higher over the same period a year ago.
The CEA-CNET Index of Consumer Expectations (ICE) rose to 157.8 this month. The ICE, which measures consumer expectations about the broader economy, is up by half a point over July and down more than 14 points from this time last year.
“Individuals remain concerned about their own financial wellbeing,” said Shawn DuBravac, chief economist and director of research for CEA, “but the multi-month slide in consumer sentiment, which touched all-time lows in the index, appears to be subsiding.”
Consumer confidence in technology decreased slightly this month. The CEA-CNET Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, is down 2.2 points from July but is still 2.1% higher than this time last year.
“The good news for technology companies is that consumers are more open to spending on technology today than they were during the same period last year,” said DuBravac.
The CEA-CNET Indexes are comprised of the ICE and ICTE, both of which are updated on a monthly basis through consumer surveys.
to Daily News