Consumer Confidence Hits Low in July Says CEA

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Consumer confidence in the economy reached its lowest level in July since 2007, said the Consumer Electronics Association (CEA) which tracks consumer confidence through a poll in collaboration with CNET.

The CEA-CNET index fell 5.5 points (3 percent) this month to 157.3–an all-time low–regarding the full economy. Regarding technology, specifically, consumer confidence decreased only half a point to 82. “Although there were several new and innovative technology products launched this month, consumers seem uncertain about purchasing consumer electronics. 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 luxury,” said Anne Claudio, VP research at CBS Interactive.

As for the overall economy, Claudio says consumers continue to be cautious.

Source: CEA

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