CE Consumer Confidence Drops
Consumer confidence in both the technology sector and the overall economy dropped to the lowest level of the year in July, according to the index released by CEA and CNET.
The CEA-CNET Index of Consumer Expectations (ICE) dropped nine points from the previous month, to 165.9, while the Index of Consumer Technology Expectations dropped eight points to 76.6. Both indices had risen in recent months.
“Consumer expectations around tech spending mirrored the decline in consumers’ confidence in the economy,” Anne Claudio, vice president of research at CNET parent company CBS, said as part of the announcement. “With job employment concerns top of mind for many consumers, people are being cautious with their spending and could be saving for the back-to-school and holiday seasons.”