March Consumer Sentiment Toward Overall Economy and Tech Spending Slips From Record Highs

ARLINGTON, Va.--()--Consumer confidence toward the overall economy and technology spending both fell in March, following record-high levels for the month of February, according to the latest data released today by the Consumer Electronics Association (CEA)®.

Overall Economy

The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the U.S. economy as a whole, decreased 2.8 points from February to 178.4. This month’s ICE remains higher year-over-year for the month of March since the CEA Index began tracking in 2007.

“While consumer confidence is down slightly from last month, U.S. economic growth continues to sustain above-trend growth,” said Shawn DuBravac, Ph.D., chief economist, CEA and author of CEA’s recently released book and New York Times best-seller Digital Destiny: How the New Age of Data Will Transform the Way We Work, Live, and Communicate. “Consumers are still feeling optimistic, despite winter weather likely affecting businesses this month.”

Technology Spending

The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, fell 5.4 points in March to 89.5.

“Consumer sentiment toward tech spending has been sustaining strong readings so far in 2015. Yet, as with sentiment toward the overall economy, we seem to be experiencing a bit of seasonal variation coming off the winter months,” said Dr. DuBravac.

The CEA Indexes are updated on a monthly basis through consumer surveys. New data is released on the fourth Tuesday of each month. To find current and past indexes, charts, methodology and future release dates, log on to CEAindexes.org.

About CEA:

The Consumer Electronics Association (CEA) is the technology trade association representing the $223 billion U.S. consumer electronics industry. More than 2,000 companies enjoy the benefits of CEA membership, including legislative and regulatory 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 at www.CE.org, www.DeclareInnovation.com and through social media.

UPCOMING EVENTS

  • Technology & Standards Spring Forum
    March 24-26, 2015, Nashville, TN
  • Digital Patriots Dinner
    April 14, 2015, Washington DC
  • CES on the Hill
    April 15, 2015, Washington DC
  • 2015 International CES Asia
    May 25-27, 2015, Shanghai, China
  • CEO Summit
    May 25-27, 2015, Shanghai, China
  • CEA Innovate!
    November 8-10, 2015, New York, NY
  • CE Hall of Fame Dinner
    November 9, 2015, New York, NY
  • CES Unveiled New York
    November 10, 2015, New York, NY

Contacts

Consumer Electronics Association (CEA)
Danielle Cassagnol, 703-907-5253
dcassagnol@CE.org
or
Laura Hubbard, 703-907-4326
lhubbard@CE.org
www.CE.org

Release Summary

Consumer confidence toward the overall economy and technology spending both fell in March, following record-high levels for the month of February, according to the latest data released today by CEA.

Contacts

Consumer Electronics Association (CEA)
Danielle Cassagnol, 703-907-5253
dcassagnol@CE.org
or
Laura Hubbard, 703-907-4326
lhubbard@CE.org
www.CE.org