Consumer Confidence in Economy, Technology Both Fall Slightly in July, According to CEA
Arlington, VA – 07/26/2011 – Consumer confidence in the overall economy and in technology both slipped in July, according to the latest CEA Indexes from the Consumer Electronics Association (CEA)®
The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, fell one point this month to 159.1.
“Consumer sentiment deteriorated further this month as the inability of Congress to raise the debt ceiling heightens consumer uncertainty,” said Shawn DuBravac, CEA’s chief economist and director of research. “Given the recent soft patch in the economy, consumers remain jittery. There are some signs, however, that the sentiment around employment and the labor market generally is improving slowly.”
Consumer expectations regarding their technology spending are also slightly down in July. The CEA Index of Consumer Technology Expectations (ICTE) fell about 2.5 points this month to 79.8. The ICTE measures consumer expectations about technology spending.
“Despite a slight dip in consumer sentiment around technology spending, CEA data shows consumer have continued to expand their spending on technologies over the last several months,” DuBravac said.
The CEA Indexes comprise the ICE and ICTE, both of which are updated on a monthly basis through consumer surveys. New data is released on the fourth Tuesday of each month. CEA has been tracking index data since January 2007. To find current and past indexes, charts, methodology and future release dates, log on to CEAindexes.org.
The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the $186 billion U.S. consumer electronics industry. More than 2,000 companies enjoy the benefits of CEA membership, including legislative advocacy, market research, technical training and education, industry promotion, standards development and the fostering of business and strategic relationships. CEA also owns and produces the International CES – The Global Stage for Innovation. All profits from CES are reinvested into CEA’s industry services. Find CEA online at www.CE.org and www.Innovation-Movement.com.