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CEA Reports Consumer Confidence in Technology Increases

Overall confidence in economy lags

According to CEA Consumer Sentiment Indexes figures released this week by the Consumer Electronics Association, a trade association aimed at promoting growth in the $209 U.S. consumer electronics industry, consumer confidence in technology spending this month increase, while sentiment in the overall economy sank.

The CEA’s Index of Consumer Technology Expectations (ICTE) rose 3.2 points in April to reach 83.1, according to a press release, which added that the ICTE is up for the second consecutive month.

Shawn DuBravac, CEA’s chief economist and senior director of research, said that, “individuals and households report at least a 35% increase in spending on CE products over the past 12 months.”

On the other hand, 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, which DuBravac said might have to do with sequestration concerns.

The CEA has 2,000 companies as members, and works on legislative advocacy, market research, technical training and education, industry promotion, standards development and the fostering of business and strategic relationships. They also own and produce International CES — The Global Stage for Innovation.

The CEA has been tracking index data since the beginning of 2007, and both indexes are updated on a monthly basis through consumer surveys, with new data released on the fourth Tuesday of each month.

For more information and archived data, visit CEA Consumer Sentiment.