CEA And CNET Release New Consumer Sentiment Indexes
First-ever Metric for Measuring Consumer Expectations about Consumer Electronics
The Consumer Electronics Association (CEA)® and CNET (www.CNET.com) today announced the launch of the CEA-CNET Consumer Sentiment Indexes. The CEA-CNET Indexes provide a look at consumer confidence for the economy as well as the first-ever measure of consumer expectations around consumer electronics (CE) and technology. The partnership was announced this morning at CNET’s New York City office.
“The CEA-CNET Indexes provide market observers a new metric on the economy and the first of its kind metric to gauge the on-going health of the consumer technology sector,” says Shawn DuBravac, CEA’s economist. “By eliciting subjective probabilities, the indexes are better at capturing consumers’ attitudes and feelings about the economy.”
The CEA-CNET Indexes are comprised of the CEA-CNET Index of Consumer Expectations (ICE) and the CEA-CNET Index of Consumer Technology Expectations (ICTE). The Indexes will be updated on a monthly basis through consumer surveys and new data will be released on the fourth Tuesday of each month. CEA and CNET have been tracking index data since January 2007. While the CEA-CNET ICE has drifted downward, the CEA-CNET ICTE has shown positive gains over two consecutive months. “Results from the CEA-CNET Indexes are consistent with what we are seeing elsewhere, spending on consumer technologies remains a priority for consumers, despite the overhanging economic uncertainty,” according to DuBravac. The numbers for August will be released at 10 AM eastern time on August 26. Information on the index and monthly index updates are available online at www.CE.org/ceacnetindexes.
“Consumer electronics have become an indispensible part of people’s lives and a major factor in the health of the U.S. economy,” says Claudia Haase, director of research at CNET. “We’re thrilled to be partnering with CEA to bring these indexes to the industry. For the first time, we have a tool that allows economists and business leaders to track a sector that is expected to exceed $173 billion in U.S. factory sales this year.”
For the past 19 months, CEA and CNET have been gathering information on the current economic climate; specifically, the indexes track consumers’ expectations in the area of consumer technology. The indexes build on established academic research into how to more accurately measure consumer expectations. The CEA-CNET Consumer Sentiment Indexes will:
1. Provide a new metric for measuring consumer expectations about the economy.
2. Provide the first-ever metric for measuring consumer expectations about consumer electronics.
3. Provide a new metric for the financial markets community.
4. Provide a new metric for CEA member companies.
5. Highlight CEA’s position as a top-tier provider of industry research.
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