CEA: Confidence Down Slightly
Consumer confidence in the consumer electronics sector dropped slightly in May, while confidence in the overall economy remained flat. That's according to the latest monthly figure released Tuesday by the Consumer Electronics Association and CNET.
The Index of Consumer Technology Expectations (ICTE) dropped eight tenths of a point, to 71.5, while the Index of Consumer Expectations (ICE) rose one-tenth of a point, to 164.2.
“With concerns about financial well-being, consumers are watching what they spend, including on technology,” CEA’s chief economist and director of research, Shawn DuBravac, said as part of the announcement. “Despite a number of new and innovative products entering the marketplace, sentiment is suggesting consumers want to hold back purchases despite recent months of strong spending figures.”