CEA: Confidence Dropped in August
Consumer confidence in both the overall economy and the tech sector dropped in August from July, according to numbers released Tuesday by the Consumer Electronics Association.
The overall CEA Index of Consumer Expectations dropped 4.2 points, while the CEA Index of Consumer Technology Expectations dropped 0.6 points. The latter, however, reached its highest-ever level for the month of August.
"Consumer sentiment around the overall economy ebbed lower in August after steady rises over the prior two months,” Shawn DuBravac, CEA’s chief economist and senior director of research, said as part of the announcement. “The decline in sentiment over the summer months parallels the slide we saw in 2011, though not as sharply.”