Consumer expectations about technology spending continue to fall, even as confidence in the overall economy was virtually unchanged; that’s according to figures from the Consumer Electronics Association and CNET.
Consumer confidence in CE and technology dropped about 9 points in February to 68.4, the lowest level since the CEA-CNET Indexes were started two years ago.
“Consumers continue to delay discretionary purchases, and we are in the midst of one of the worst drops in consumer spending in the last 40 years,” stated Shawn DuBravac, CEA’s economist and director of research. “The drop in February is not completely surprising considering the decent strength in consumer spending on technology in January.”
The organization said it is still seeing positive growth in categories such as digital displays, accessories and video games.