CEA: Two Consumer Confidence Indicators Hit 2010 Peak
Nov 30, 2010
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Consumer confidence in the overall economy and in technology spending both improved in November to the highest points of the year, according to the latest figures released today by the Consumer Electronics Association (CEA).
For the fourth month, the CEA Index of Consumer Expectations (ICE) improved in November. The ICE measures consumer expectations about the broader economy and rose six points to 173.1, reaching the highest level since October 2009. The ICE is also up nearly eight points from this time last year.
“Consumers are beginning to feel less pessimistic about employment as their overall economic outlook improves,” said Shawn DuBravac, CEA chief economist and director of research. “While the labor market remains depressed, consumer sentiment is rising.”
The Index of Consumer Technology Expectations (ICTE) improved to its highest point since December 2009. The ICTE measures consumer expectations about technology spending and it increased nearly seven points month to 86.1. The ICTE, however, remains down from the same time as last year.
“Expectations to spend more on technology are up in November as consumers begin their holiday shopping,” said DuBravac. “Consumers remain cautious, however, as they continue to guard discretionary spending closely.”
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