Confidence in CE Continues Drop
While consumer confidence in he overall economy has remained flat since last month, confidence in consumer electronics and technology plunged nine points in February. That's according to the latest CEA-CNET Index of Consumer Technology Expectations, released Wednesday.
The index is now at 68.4, the lowest level since the index was established in January 2007. It represents a 21 point drop over the same month last year.
“Consumers continue to delay discretionary purchases, and we are in the midst of one of the worst drops in consumer spending in the last 40 years,” CEA's economist, Shawn DuBravac, said as part of the announcement. “The drop in February is not completely surprising considering the decent strength in consumer spending on technology in January. While consumer spending is down across the board, we are still seeing positive growth in several product categories such as digital displays, accessories and video games.”