ARLINGTON, Va.--(BUSINESS WIRE)--Consumer confidence in technology spending increased in April, while sentiment in the overall economy decreased, according to the latest figures released today by the Consumer Electronics Association (CEA)®.
The CEA Index of Consumer Technology Expectations (ICTE) rose 3.2 points in April to reach 83.1. The ICTE, which measures consumer expectations about technology spending, is up for the second consecutive month.
“Technology sentiment rose this month despite wavering confidence in the overall economy,” said Shawn DuBravac, CEA’s chief economist and senior director of research. “Technology spending is also up over the year. Both individuals and households report at least a 35 percent increase in spending on CE products over the past 12 months, according to CEA’s 15th Annual CE Ownership and Market Potential Study, released yesterday.”
The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, fell 6.9 points in April to 162.6. This month’s ICE is 8.3 points lower than April of last year.
“Confidence in the overall economy slipped this month; a possible sign that the weight of sequestration is starting to materialize for consumers,” said DuBravac.
The CEA Indexes comprise the ICE and ICTE, both of which are updated on a monthly basis through consumer surveys. New data is released on the fourth Tuesday of each month. CEA has been tracking index data since January 2007. To find current and past indexes, charts, methodology and future release dates, log on to CEAindexes.org.
The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the $209 billion U.S. consumer electronics industry. More than 2,000 companies enjoy the benefits of CEA membership, including legislative advocacy, market research, technical training and education, industry promotion, standards development and the fostering of business and strategic relationships. CEA also owns and produces the International CES – The Global Stage for Innovation. All profits from CES are reinvested into CEA’s industry services. Find CEA online: www.CE.org and www.DeclareInnovation.com. Follow CES at www.CESweb.org and through both CEA and CES social media channels.
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