CE Confidence Down Slightly in February
A day after the Conference Board announced an eight-month low for consumer confidence in the U.S. economy for February, the CEA/CNET index came out with a similar conclusion Wednesday. But the CE-specific index was more positive.
The CEA-CNET Index of Consumer Expectations (ICE), which measures the overall economy, reported an eight-point drop from January to February, bringing the index to its lowest point since October 2008. The drop of the The CEA-CNET Index of Consumer Technology Expectation (ICTE) was more modest, falling two points from January to February.
“Technology continues to show its resiliency despite concerns regarding the overall direction of the economy,” CEA chief economist Shawn DuBravac said as part of the announcement. “Consumers remain willing to spend on technology, showing tech remains key to overall economic recovery.”