Consumer Confidence in Economy and Tech Dips
ARLINGTON, VA.: Consumer confidence in the economy has reached
its lowest level in three-and-a-half years, according to an index kept by CNET
and the Consumer Electronics Association. July’s metric also indicated a drop
in technology confidence.
The CEA-CNET Index of Consumer Expectations gauging the economy, fell to 157.3
this month. The metric was down 5.5 points from June and the lowest since the
establishment of the index in January 2007. It’s down eight points from the
same period a year ago.
“The overall mood of consumers continues to be cautious,” said Anne Claudio,
vice president of research at CBS Interactive. “A variety of factors are
weighing heavily on consumers and their feelings towards the economy.”
The CEA-CNET Index of Consumer Technology Expectations measures consumer
expectations on technology expenditures. It fell more than half of a point to
82, but remains up 5.4 points from last year.
“Although there were several new and innovative technology products launched
this month, consumers seem uncertain about purchasing consumer electronics,” Claudio
said. “This may be a wait-and-see approach, as parents and children
prepare for the school season and may purchase more for necessity rather than