TV-Buying Intentions Fell Sharply in September, Says Conference Board Report

Consumer intentions to buy TV sets declined sharply in September, according to preliminary data in the Conference Board’s monthly survey. Nielsen canvassed 5,000 consumers for the Conference Board through Sept. 15, and found 11.2 percent said they plan to buy a TV set in the next six months, down from 13.6 percent in August, 12.5 percent in July and 13.1 percent in September 2015, the Conference Board said in a Tuesday report. However, the Consumer Confidence Index increased in September for a second straight month to reach its highest level since the recession, it said. “Consumers’ assessment of present-day conditions improved, primarily the result of a more positive view of the labor market. Looking ahead, consumers are more upbeat about the short-term employment outlook, but somewhat neutral about business conditions and income prospects. Overall, consumers continue to rate current conditions favorably and foresee moderate economic expansion in the months ahead.” CTA had a somewhat more negative take about September consumer confidence toward tech spending and the overall economy. The association’s Index of Consumer Technology Expectations, which measures consumer expectations about technology spending, decreased in September, as did its Index of Consumer Expectations, which measures consumer sentiment about the U.S. economy as a whole, CTA said in Tuesday announcement. “Decline in economic sentiment is primarily driven by lower expectations about the broader economy,” CTA said. “The economy has seen meager growth -- up only one percent through the first half of the year -- which has put general downward pressure on wage growth and consumer sentiment.”