Consumer Confidence on Economic Spending Hits New High for 2014 According to CEA Indexes
ARLINGTON, Va.--(BUSINESS WIRE)--Consumer sentiment towards the economy reached its highest level of 2014 in August, according to the latest figures released today by the Consumer Electronics Association (CEA)®.
“While tech sentiment dropped on a sequential basis, it remains nearly five percent above the August average for the past three years. This is a positive sign, as we head into the back half of the year”
The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, increased by 1.2 points from last month to reach 172.5 in August.
“U.S. consumers appear to be brushing off geopolitical concerns that are hampering sentiment in Europe and elsewhere,” said Shawn DuBravac, CEA’s chief economist and senior director of research. “Despite continued softness in the housing market, fundamentals of the economy are slowly strengthening thanks to an improving labor picture and signs of positive economic growth into the close of the year.”
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, decreased by 4.8 points in August to reach 90.5.
“While tech sentiment dropped on a sequential basis, it remains nearly five percent above the August average for the past three years. This is a positive sign, as we head into the back half of the year,” said DuBravac. “With new product announcements expected in September, we should see consumer sentiment about tech spending remain above average.”
DuBravac and other CEA analysts are available to discuss recent and forthcoming company product announcements and relative industry trends. To schedule a call, please contact Danielle Cassagnol.
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 technology trade association representing the $211 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 at www.CE.org, www.DeclareInnovation.com and through social media: http://www.ce.org/social
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