Consumer confidence in the overall direction of the economy showed slight improvement from last month while confidence in technology dropped to its lowest level since March 2009, according to the latest figures released today from the Consumer Electronics Association (CEA) and CNET.
The CEA-CNET Index of Consumer Expectations (ICE) rose to 164.1 points in April, an increase of more than one point. The ICE, which measures consumer expectations about the broader economy, is down more than four points from this time last year. Although there was a small improvement from last month’s lowest point of the year, the figures still reflect consumers’ hesitation towards the overall economy.
The CEA-CNET Index of Consumer Technology Expectations (ICTE) fell in April to 72.3, down more than 11 points from last month. The ICTE is at its lowest level since reaching an all-time low in March 2009. The ICTE is down more than five points from this time last year.
“With tax season causing everyone to take a look at their finances, consumer reluctance to spend their disposable income is expected,” says Anne Claudio, vice president of research at CBS Interactive. “New technologies such as the iPad, 3DTV and IPTV are entering the market and creating excitement but may also be contributing to consumers’ current wait and see approach.”
The CEA-CNET Indexes are comprised of the ICE and ICTE, both of which are updated on a monthly basis through consumer surveys. New data is released on the fourth Tuesday of each month. CEA and CNET have been tracking index data since January 2007. To find current and past indexes, charts, methodology and future release dates, log on to http://www.CEACNETindexes.org .