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Consumer Sentiment Is ‘Stabilizing,’ CEA and CNET Find

Expectations about tech spending are improving, they say

Consumer confidence in the economy held steady in June. That’s according to data out this week from the Consumer Electronics Association and CNET. Their latest report also shows that consumer confidence in technology and consumer electronics “continues to improve.”

The CEA-CNET Index of Consumer Expectations is at its highest level since February a year ago. “Consumers are growing more confident about their future financial health but remain worried about the market outlook for jobs,” the organizations stated.

“As we’ve seen in past recoveries, unemployment rates will not likely go down until after the recession has ‘officially’ ended,” stated Shawn DuBravac, CEA’s economist and director of research in the announcement. He said consumer sentiment is “stabilizing as the economy works through the final months of a historically long recession.”

Consumer confidence in CE and technology climbed for the fourth month. “Consumer expectations around tech spending continue to improve as we head into the important second half of 2009,” said DuBravac. “It appears that overall consumer spending has bottomed out as consumers continue to expect to buy more CE and expect to spend more on their CE purchases in the months ahead.”

The Consumer Electronics Association is a trade association promoting the U.S. consumer electronics industry. CNET is part of CBS Interactive.