Consumer confidence in the overall U.S. economy hit its highest level in almost five years in October, while technology confidence fell slightly. That's according to statistics released Tuesday by the Consumer Electronics Association.
The CEA Index of Consumer Expectations (ICE) saw a 5.5-point increase to 177.7, the highest level since early 2008. The CEA Index of Consumer Technology Expectations (ICTE) dropped 4.7 points as it dropped from a September spike.
“While an abundance of economic uncertainties remain, individuals are generally feeling better about the future,” Shawn DuBravac, CEA’s chief economist and senior director of research, said in a statement. “Overall sentiment improved in October as some uncertainties lifted. As we’ve seen in the past two years, consumer sentiment is again rising heading into the fourth quarter.”
