Consumer Confidence Falls in Latest CEA-CNET Indexes
Oct 29, 2008
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Consumer confidence in the economy decreased in the month of October, according to the Consumer Electronics Association (CEA) and CNET (www.CNET.com). The CEA-CNET Indexes also found that consumer confidence in consumer electronics (CE) and technology are down.
The CEA-CNET Consumer Sentiment Indexes measure how consumers perceive:
•the overall health of the economy
•the outlook for technology spending
Both indexes focus on consumer perceptions of the future. They Indexes are intended to be forward-looking insights into how consumers will likely behave over the pursuing months.
The CEA-CNET Index of Consumer Expectations (ICE) dipped to 163.7 in October. That number is down more than eight points from last month and more than seven points from this time last year. October’s number ends two straight months of positive growth.
Confidence in CE and technology is also lower this month. The CEA-CNET Index of Consumer Technology Expectations (ICTE) fell to 76.2, marking the third consecutive month of negative growth. The ICTE is 11 points lower than this time last year and is at the second lowest level since CEA and CNET began tracking index data in January 2007. The all-time low of 75.2 was set in May of this year.
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