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Despite Tough Economy, Consumers Still Plan to Buy Latest Gadgets - August 14, 2008

Consumers surveyed in July expect the next few months to be difficult economic times, but they expect to buy more consumer technology products over the next year, according to the first report out from a new consumer sentiment index launched this week by the Consumer Electronics Assoc. and CNET. 

The Index of Consumer Technology Expectations found that consumer sentiment about buying consumer electronics has trended up for the last two months, while general consumer sentiment about the economy has headed down.

"Results from the CEA-CNET Indexes are consistent with what we are seeing elsewhere, spending on consumer technologies remains a priority for consumers, despite the overhanging economic uncertainty," CEA economist Shawn DuBravac said in a statement.

The index has 18 months of consumer sentiment data dating back to Jan. 2007. Over the span of the index, consumer sentiment toward buying technology has hovered above consumer sentiment about the economy.

CEA and CNET will release monthly reports on consumer sentiment.  -- Jennifer Netherby

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