Consumer confidence in the economy rose in October to the highest level since 2008, according to the Consumer Electronics Association (CEA) monthly poll.
It found confidence rose 5.5 points from September and up 18 points over October last year.
“While an abundance of economic uncertainties remain, individuals are generally feeling better about the future,” said Shawn DuBravac, CEA Chief Economist.. “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.”
However consumer confidence in technology, specifically, fell 4.7 points from September. Expectations for technology spending fell about 2 points from October 2011.
“Sentiment for tech slipped in October after a sharp increase in September,” said DuBravac. “The spike in September was a result of several key product launches during the month. With fewer major launches in October, consumers’ inclination to spend on tech slipped slightly. Given our recent forecast for holiday tech spending, we expect sentiment to rise over the next two months.”
Source: CEA
Get the news before your competitors do. CEoutlook is the daily brief read by over 6,500 dealers, reps and manufacturers across the mobile electronics industry. Subscribe free.
