Consumer confidence toward the overall economy remains flat, while expectations about technology spending rose slightly in September, according to the latest data released today by the Consumer Electronics Association (CEA)®.
Overall Economy
The CEA Index of Consumer Expectations (ICE), which measures consumer sentiment about the U.S. economy as a whole, increased 0.4 points from August to reach 170.5.
"After a volatile market correction last month, September's sentiment toward the overall economy remains flat," said Shawn DuBravac, Ph.D., chief economist, CEA, and author of the New York Times best-seller Digital Destiny: How the New Age of Data Will Transform the Way We Work, Live, and Communicate. "Depressed levels of sentiment serve as a cautionary note heading into the holiday season. October's CEA Index will be a key metric as we head into the final months of the year."
Technology Spending
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, increased 2.1 points to reach 88.8 in September. The ICTE for the month of September remains lower year-over-year.
"In recent months, consumer attitudes toward tech purchases have mirrored overall sentiment," said DuBravac. "Should sentiment not pick up in October, expect to see retailers and manufacturers seek to stoke demand in the coming weeks in advance of the holiday shopping season."
The CEA Indexes are updated on a monthly basis through consumer surveys. New data is released on the fourth Tuesday of each month.
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