Consumer confidence toward the overall economy and technology spending both saw decreases in January, according to the latest figures released today by the Consumer Electronics Association (CEA), Arlington VA.
The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, decreased by 1.7 points from December to reach 166.8 in January.
“The slight downward shift in overall economic sentiment is unsurprising, given early declines in equity markets to start 2014,” says Shawn DuBravac, CEA’s chief economist and senior director of research. “Gasoline prices have also inched higher over the last few weeks, placing further pressure on consumer sentiment.”
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, slid 7.1 points in January to 83.1, but held steady year-over-year by an increase of 0.1 point.
“At the beginning of each year, we see seasonal declines in technology sentiment following the holiday season spike, and 2014 has started with this typical pattern,” DuBravac adds. “However, the consumer electronics market is starting 2014 on stable footing as the underlying economy continues to improve.”