Overall Consumer Confidence Finds a Beat, Tech Sector Steady, According to Latest CEA-CNET Indexes

ARLINGTON, Va.--(BUSINESS WIRE)--Consumer confidence in the economy increased by half a point in August, according to figures released today by the Consumer Electronics Association (CEA)® and CNET. Confidence in consumer electronics fell more than two points to 79.8, but remains higher over the same period a year ago.

“Individuals remain concerned about their own financial wellbeing”

The CEA-CNET Index of Consumer Expectations (ICE) rose to 157.8 this month. The ICE, which measures consumer expectations about the broader economy, is up by half a point over July and down more than 14 points from this time last year.

“Individuals remain concerned about their own financial wellbeing,” said Shawn DuBravac, chief economist and director of research for CEA, “but the multi-month slide in consumer sentiment, which touched all-time lows in the index, appears to be subsiding.”

Consumer confidence in technology decreased slightly this month. The CEA-CNET Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, is down 2.2 points from July but is still 2.1 percent higher than this time last year.

“The good news for technology companies is that consumers are more open to spending on technology today than they were during the same period last year,” said DuBravac.

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. To find current and past indexes, charts, methodology and future release dates, log on to: CEACNETindexes.org.

About CNET:

CNET (cnet.com) is where people go to discover the latest in tech and consumer electronics. Driven by a trusted voice and a passionate community, CNET creates an open environment for people to find and use the best products to fit their lifestyle. The powerful combination of CNET's award-winning news, lab-tested product reviews, safe and spyware-free downloads, and user-generated content give people information and inspiration to live and thrive in a life gone digital.

About CEA:

The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the $175 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 sponsors and manages 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.

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