11.23.2010 12:00 PM
CEA: Consumer Confidence Highest for the Year
ARLINGTON, VA.: Consumer confidence in the economy and in
technology spending improved in November to the highest levels of the year,
according to the latest figures from the Consumer Electronics Association. CEA
said that for the fourth straight month, its Index of Consumer
Expectations--the ICE--rose. The index, which measures consumer expectations about the
economy, increased six points to 173.1, the highest since October of 2009. It’s also
up around eight points from the same time last year.
“Consumers are beginning to feel less pessimistic about employment as their
overall economic outlook improves,” said Shawn DuBravac, CEA chief economist
and director of research. “While the labor market remains depressed, consumer
sentiment is rising.”
The CEA Index of Consumer Technology Expectations also reached its highest
point since December 2009. The ICTE measures consumer expectations about
technology spending. It rose nearly seven points this month to 86.1. The
ICTE, however, remains down from the same time as last year.
“Expectations to spend more on technology are up in November as consumers begin
their holiday shopping,” DuBravac said. “Consumers remain cautious, however, as
they continue to guard discretionary spending closely.”
The CEA initiated the indices in 2005 and updates them monthly via phone survey
of 1,000 randomly selected individuals.