Connect with us

Hi, what are you looking for?

Articles

Consumer Confidence in Technology Down Slightly in May

635249.jpg

Consumer confidence in the overall economy remained relatively unchanged in May, while confidence in technology showed a slight drop, according to the latest data released today from the Consumer Electronics Association (CEA)® and CNET.

The CEA-CNET Index of Consumer Expectations (ICE) rose one-tenth of a point to 164.2 in May. The ICE, which measures consumer expectations about the broader economy, is down over ten points from this time last year.

"Consumers remain guarded after a tumultuous month on Wall Street," said Shawn DuBravac, CEA's chief economist and director of research. "Consumers are increasingly worried about their job security and long-term financial health with more people feeling the U.S. economy will be in worse shape in the coming twelve months."

Consumer confidence in technology showed a slight decrease this month. The CEA-CNET Index of Consumer Technology Expectations (ICTE) fell eight tenths of a point to 71.5. The ICTE, which measures consumer expectations about technology spending, reached its lowest level since its all-time low in March 2009. The ICTE is down nearly ten points from last year.

"With concerns about financial well-being, consumers are watching what they spend, including on technology," said DuBravac. "Despite a number of new and innovative products entering the marketplace, sentiment is suggesting consumers want to hold back purchases despite recent months of strong spending figures."

The CEA-CNET Indexes are comprised of 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 and CNET have been tracking index data since January 2007.

View Full Report (PDF opens in a new window)

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Advertisement

ecoustics is the unbiased resource for the latest technology news, coolest gadgets, and best consumer electronics. Plus get product reviews, roundups and deals from all over the web on everything electronic. Read more



Copyright © 1999-2021 ecoustics | Disclaimer: ecoustics may earn a commission when you buy through links on our site.