By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Arlington, Va. — Consumer confidence toward technology spending rose in August, but sentiment toward the overall economy dropped, according to the Consumer Electronics Association (CEA).
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, increased by 1 point in August to 87.2. This is the highest point it has reached in 2013.
“Technology sentiment increased slightly in August, a positive sign for tech spending around back-to-school purchases. Tech sentiment is in line with August 2012 levels and well above the 2009 to 2012 average,” said Shawn DuBravac CEA’s chief economist and research senior director.
The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, decreased 5.2 points in August to 162.6. This is 6.1 points lower than the prior-year period.
DuBravac noted, “Tensions abroad could have consumers holding back on spending.”
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. Visit CEAIndexes.org for current and past indexes, charts, methodology and future release dates.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.