CEA/CNET Confidence Index Rises Again
Consumer confidence is beginning to rebound, both in the overall economy and in the CE sector. That's according to the latest numbers from the CEA-CNET consumer confidence index, which concurs with the Conference Board's results for the month.
The overall CEA-CNET Index of Consumer Expectations (ICE) posted a score of 174.6, a six-point gain over April and its highest level since February. The CEA-CNET Index of Consumer Technology Expectations (ICTE), meanwhile, jumped four points to a yearly high of 81.1.
“Consumer spending on technology appears to have bottomed,” CEA chief economist Shawn DuBravac said as part of the announcement. “While the economy continues to deteriorate, albeit at a slower rate, consumer spending generally and specifically consumer spending on technology are likely beginning to rebound, which is inline with the timing of consumer spending in past recessions.”