Consumer confidence toward tech spending increases
Consumer confidence toward both the overall economy and technology spending both saw slight increases in February, 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, increased by 0.3 points from last month to reach 167.6 in February.
“Consumers seem to be settling in after a long post-crisis adjustment,” said Shawn DuBravac, CEA’s chief economist and senior director of research. “Despite some uneasiness in the financial markets and some unrest abroad, consumers appear to be generally shrugging off news that would have weighed more heavily on sentiment in previous years.”
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, also held steady from January, increasing by 0.5 points. February saw a jump of 6.8 points year-over-year. Year-over-year, the ICTE jumped 6.8 points from last February’s measurement.
“Consumer expectations toward tech spending look strong on a year-over-year basis,” said DuBravac. “The next 60 days or so will bring a slew of new technologies to the market, as consumers see products that were announced at the beginning of the year hit store shelves.”