ARLINGTON, Va. - (BUSINESS WIRE) - Consumer confidence in the overall economy dropped in July to its lowest level this year, according to the latest data from the Consumer Electronics Association (CEA) and CNET. The CEA-CNET Indexes also showed that consumers' confidence in technology and consumer electronics (CE) declined this month. The CEA-CNET Index of Consumer Expectations (ICE) slumped to 165.9 ending two consecutive months of positive gain. The ICE, which measures consumers' confidence in the overall economy, is down nearly nine points from June and is at its lowest level since October 2008. "Consumers faced a setback this month with the latest economy news," said Anne Claudio, vice president of Research at CBS Interactive. "Recent unemployment figures hitting their highest level in 26 years, the rising cost of gasoline prices and declines in household net worth due to the housing market are causing consumers to feel hesitant about an economic recovery in the near term." Consumer confidence in CE and technology also fell to its lowest level in over a year. The CEA-CNET Index of Consumer Technology Expectations (ICTE) dropped to 76.6, a decrease of nearly eight points from last month. The ICTE, which measures consumer confidence in technology and consumer electronics, is down four points from this time last year. "Consumer expectations around tech spending mirrored the decline in consumers' confidence in the economy," said Claudio. "With job employment concerns top of mind for many consumers, people are being cautious with their spending and could be saving for the back-to-school and holiday seasons." 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 $172 billion U.S. consumer electronics industry. More than 2,000 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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