By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Arlington, Va. – The Consumer Electronics Association (CEA) reports that consumer confidence in the overall economy and sentiment toward technology increased in March.
CEA said both indexes saw increases after two consecutive months of declines, but both remain below March 2012 levels.
The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, rose 4.2 points in March to 169.5. This month’s ICE is 4.1 points lower than March of last year.
“Sentiment rose this month as consumers continue to benefit from improving wealth effects,” said Shawn DuBravac, CEA’s chief economist and senior research director. “Equity prices are up over four percent in the last month and the housing market continues to improve.”
The CEA Index of Consumer Technology Expectations (ICTE) rose 2.5 points in March to reach 79.9. The ICTE, which measures consumer expectations about technology spending, is down nine points year-over-year.
“Despite lower sentiment levels than this time last year, the economy continues to exhibit strength,” said DuBravac. “Consumers are perhaps generally shrugging off higher payroll taxes, sequestration and uncertainty from across the Atlantic.”
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.
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