Both of the CEA/CNET measures of consumer confidence have hit a yearly high for the month of November.
The CEA/CNET Index of Consumer Expectations (ICE) rose six points to 173.1, an eight-point rise over the same period last year and the highest number since October of 2009. The ndex of Consumer Technology Expectations (ICTE) jumped seven points to 86.1, the highest level since last December.
“Expectations to spend more on technology are up in November as consumers begin their holiday shopping,” CEA economist Shawn DuBravac said as part of the release of the numbers. “Consumers remain cautious, however, as they continue to guard discretionary spending closely.”