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CEA Cites Higher Consumer Confidence in Economy

Consumer technology described as a 'bright spot in the overall financial market.'

For the third month, consumer confidence in the economy increased in September, according to the Consumer Electronics Association and CNET.

Meanwhile, they also reported, consumer confidence in technology was down slightly but remains higher than the same period last year.

“Despite the uncertainties presented by financial markets over the last few weeks, consumers continue to have a positive financial outlook,” stated Shawn DuBravac, CEA’s economist, in the announcement, which was issued Tuesday.

“Consumer sentiment responds most quickly to the uncertainties and risks consumers directly face. With two months of consecutive declines at the gas pump, consumers are expressing a bit of relief about their financial future.”

He said the consumer technology industry “continues to remain a bright spot in the overall financial market.”

The organizations issue what is called the CEA-CNET Index of Consumer Expectations. CNET is part of CBS Interactive.