CEA-CNET: Confidence Hits Historic Low

CEA-CNET: Confidence Hits Historic Low

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Overall consumer confidence hit its lowest number in the history of the survey, while confidence in the consumer electronics sector was down slightly. That's according to the July numbers released Tuesday by the Consumer Electronics Association and CNET.

The Conference Board's consumer confidence numbers, released Tuesday as well, were also down, going to 50.4 from 54.3 in June.

The CEA-CNET Index of Consumer Expectations (ICE) dropped 5.5 points from June, to 157.3, which represents the lowest number since the survey began in January 2007. Meanwhile, the CEA-CNET Index of Consumer Technology Expectations (ICTE) dropped by around half a point to 82, which represents a 5.4-point increase over the same period last year.

“The overall mood of consumers continues to be cautious,” Anne Claudio, vice president of research at CBS Interactive, said as part of the announcement. “A variety of factors are weighing heavily on consumers and their feelings towards the economy.”

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