Consumer Confidence up Slightly in November, According to Latest CEA-CNET Indexes.

Consumer Confidence in Consumer Electronics Also Increases

ARLINGTON, Va. -- Consumer confidence in the overall economy increased slightly in November following a record low October level, according to figures released today by the Consumer Electronics Association (CEA)[R] and CNET (www.CNET.com). The CEA-CNET Indexes also showed consumers are slightly more likely to spend on consumer electronics (CE) and technology products.

The CEA-CNET Index of Consumer Expectations (ICE) reached 170.0 in November, an increase of 6.3 points from last month. The ICE, which measures consumers' confidence in the overall economy, reached the 170 mark for only the second time since February but remains below the level reached last November.

"Consumers are feeling slightly more confident that the economy will improve in the months ahead, although much uncertainty remains," said Shawn DuBravac, CEA's economist. "The additional stimulus from gas prices moving back down nearly two dollars a gallon and a new administration set to take office has consumers more positive about the direction of the economy over the next 12 months. Holding back consumer confidence, however, is concern over the employment outlook as consumers continue to worry about jobs."

Consumer confidence in CE and technology also climbed in November. The CEA-CNET Index of Consumer Technology Expectations (ICTE), which measures consumers' confidence in consumer electronics and technology, rose 11 percent, reaching 84.2, the third highest month since December 2007. Although the ICTE increased eight points in November, it is still about five points lower than this time last year.

"Our tech index has moved off its lows and shows that consumers do look ready to buy more consumer electronics in the weeks ahead, which is good news. However, consumers are tentative to spend and will purchase CE products at a much slower rate than last year's double digit holiday growth," said DuBravac. "It remains a challenging environment for both manufacturers and retailers but significant interest in technology remains with 79 percent of U.S. adults wanting to receive a technology product this holiday season."

The CEA-CNET Indexes are comprised of the ICE and the ICTE, both of which are updated on a monthly basis through consumer surveys. New data is released on the fourth Tuesday of each month. CEA and CNET have been tracking index data since January 2007. To find current and past indexes, charts, methodology and future release dates, log on to www.CEACNETindexes.org.

About CNET:

CNET (www.CNET.com), a property of CBS Interactive, is where people go to discover the latest in tech and consumer electronics. Driven by a trusted voice and a passionate community, CNET creates an open environment for people to find and use the best products to fit their lifestyle. The powerful combination of CNET's award-winning news, lab-tested product reviews, safe and spyware-free downloads, and user-generated content give people information and inspiration to live and thrive in a life gone digital.

About CEA:

The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the $173 billion U.S. consumer electronics industry. More than 2,200 companies enjoy the benefits of CEA membership, including legislative advocacy, market research, technical training and education, industry promotion and the fostering of business and strategic relationships. CEA also sponsors and manages the International CES - Where Entertainment, Technology and Business Converge. All profits from CES are reinvested into CEA's industry services. Find CEA online at www.CE.org.

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UPCOMING EVENTS

* CES Unveiled: The Official Press Event of the International CES January 6, 2009, Las Vegas, NV

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* Digital Music Forum East February 24-25, 2009, New York, NY

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