Consumer sentiment toward tech spending rises in July
Consumer confidence toward technology spending rose slightly in July and consumer sentiment toward the overall economy decreased slightly, according to the latest data released today by the Consumer Electronics Association (CEA).
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, climbed 0.6 points to reach 88.4 for July.
“Consumer sentiment toward tech spending continues its three-month streak, with another increase in July,” said Chris Ely, senior manager, industry analysis, CEA. “To some extent, we credit recent earnings announcements that smartphones performed well in the second quarter.”
CEA recently released its semi-annual report, which finds smartphones continue their position as the leading sales category in the tech industry, with revenues expected to generate $54 billion in 2015 – a ten percent increase from last year.
The CEA Index of Consumer Expectations (ICE), which measures consumer sentiment about the U.S. economy as a whole, decreased 1.9 points from June to reach 173.8. However, July’s ICE continues to track higher year-over-year since CEA Indexes began in June of 2007.
“Economic concerns abroad are likely behind the July dip,” said Ely. “However, there should be a second half of the year pick-up, as consumers are encouraged by an improving employment and wage landscape.”