-Consumer confidence in the overall economy decreased in April, according to figures released today by the Consumer Electronics Association and CNET. Although there was a slight decrease in consumer expectations about the future, the CEA-CNET Indexes painted a different picture for technology spending expectations, which reached their highest level this year.
The CEA-CNET Index of Consumer Expectations, which measures consumers’ confidence in the overall economy, dipped to 168.5 in April, but was up nearly three points over April 2008. The number is down four points from last month and moderates the upward trend persistent since February.
“Consumers continue to worry about economic uncertainty,” said Anne Claudio, Vice President of Research at CBS Interactive. “While we’re seeing indications of overall consumer confidence stabilizing, this month’s decline is still well above the all-time low seen last summer. Consumers continue to be cautious and reactive.”
While overall consumer confidence dipped in April, confidence in technology and consumer electronics (CE) climbed significantly. The CEA-CNET Index of Consumer Technology Expectations (ICTE) rose to 77.4, an increase of more than 10 points from last month and its highest level since December of 2008. The ICTE is up on a year-over-year basis for the first time since last September.
For more information, visit www.ceacnetindexes.org.
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