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Index: Overall consumer confidence at highest point in five years

October 24, 2012

According to the latest CEA Index released this week by the Consumer Electronics Association, consumer confidence in the overall economy increased in October to the highest level since 2008, while confidence in technology fell slightly from last month. 

The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, rose 5.5 points this month, reaching 177.7, the highest level in almost five years. The October 2012 ICE is 18 points higher than October 2011, and the highest level ever for the month of October since the ICE was introduced in 2007, according to a press release.

Consumer confidence in technology spending declined this month, and the CEA Index of Consumer Technology Expectations (ICTE) fell 4.7 points to 87.7. The ICTE, which measures consumer expectations about technology spending, also fell slightly year-over-year, down 1.9 points from October 2011.

"While an abundance of economic uncertainties remain, individuals are generally feeling better about the future," said Shawn DuBravac, CEA's chief economist and senior director of research. "Overall sentiment improved in October as some uncertainties lifted. As we’ve seen in the past two years, consumer sentiment is again rising heading into the fourth quarter."

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