Consumer confidence in both consumer electronics and the overall economy jumped in August, according to the CEA-CNET monthly index.
The CEA-CNET Index of Consumer Expectations, which measures the overall economy, jumped six points from July’s yearly low, reaching 172.2. The number is also a gain of six and a half points from the same point last year.
Meanwhile, the Index of Consumer Technology Expectations rose one and a half points to 78.2, for its fourth gain in five months.
“While consumers remain cautious, an increase in the dollar amount consumers are willing to spend is a positive sign for manufacturers and retailers,” CEA economist Shawn DuBravac said as part of the announcement. “Sentiment is improving at a crucial time in the year – as students head back to school and consumers begin to think about the holiday shopping season.”