CEA: Consumer Confidence in Economy Up in July
Jul 24, 2013
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Consumer confidence in the overall economy improved slightly in July 2013, while sentiment towards technology spending was flat, according to the Consumer Electronics Association (CEA).
The CEA Index of Consumer Expectations (ICE), measuring consumer expectations about the overall economy, was up 2.3 points in July to 167.8. The index is still down 5.1 points from July 2012.
"News reassuring continued stimulus from the Federal Reserve coupled with stocks reaching record highs, likely influenced marginal increases in sentiment towards the overall economy," said Shawn DuBravac, CEA's chief economist and senior director of research.
The CEA Index of Consumer Technology Expectations (ICTE), measuring consumer expectations of technology spending, was down 0.3 points in July 2013 to 86.2. This index is down from 88.1 in July 2012. CEA pointed out that the index was 2.9 points higher than the July average for the previous three years.
"Sentiment towards tech spending remains level with last month," said DuBravac. "Consumers continue to buy tech, but pent up demand for other durable categories is placing pressure on technology spending."
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