Consumer confidence in the overall economy and technology spending both fell in August, according to the latest CEA Index from the Consumer Electronics Association (CEA).
The Index of Consumer Expectations (ICE) was down 4.2 points to 168.7 in August 2012. The ICE was at its lowest level since May 2012, but still up nine points from August 2011.
"The decline in sentiment over the summer months parallels the slide we saw in 2011, though not as sharply," said Shawn DuBravac, CEA's chief economist and senior director of research.
The Index of Consumer Technology Expectations (ICTE) fell 0.6 points to 87.5. The ICTE measures consumer expectations about technology spending. The ICTE remained higher year-over-year and recorded its highest August level, up by 9.3 points, since the CEA Index began in 2007.
DuBravac noted that consumers remain cautious spenders. "However, with the highest technology sentiment levels in August since 2007, the consumer is potentially well positioned as we move closer to the holiday season," he said.
to Daily News