CEA: Confidence Hits Yearly Highs
The Consumer Electronics Association’s monthly measures of consumer confidence both hit yearly highs in June, CEA said Tuesday.
The overall CEA Index of Consumer Expectations (ICE) reached 170.7 in June, while the CEA Index of Consumer Technology Expectations (ICTE) jumped three points to 91.2. The latter is the highest year-over-year mark for June since the advent of the index in 2007.
“Negative effects from the first quarter seem to have dissipated and consumers are feeling more optimistic about the coming months,” Shawn DuBravac, CEA’s chief economist and senior director of research, said as part of the announcement.
“While there remains a myriad of concerns, including the housing market, the fundamental economy is firming and economic growth is returning to a positive trajectory.”