TWICE: Consumer confidence in the overall economy improved in August, said the Consumer Electronics Association (CEA), as consumer confidence in technology and CE rose in the same period.
This was according to the CEA-CNET Index of Consumer Expectations (ICE), which reached 172.2 in August. CEA said this was a jump of more than 6 points from July’s yearly low.
The ICE is said to measure consumer expectations about the broader economy. CEA said the ICE is up 6.5 points from this time last year and has climbed in three of the last four months.
“Consumers are feeling more confident of an economic recovery as the recession comes to an end,” said Shawn DuBravac, CEA’s economist and research director, in a statement.
“In particular, consumers are feeling more optimistic about the broader economy, their own financial wellbeing and importantly, are feeling more secure in their own jobs. Improved confidence in job security should buoy purchase decisions moving forward.”