Arlington, Va. —
Consumer confidence in the overall economy is down this month, according to the
latest data released today by the Consumer Electronics Association (CEA).
The CEA Indexes also show
that consumer confidence in technology spending is down as well.
After increasing for six
consecutive months and reaching a 35-month high in January, confidence in the
overall economy fell more than three points this month. The CEA Index of
Consumer Expectations (ICE), which measures consumer expectations about the
broader economy, dropped to 172. The ICE remains nearly seven points higher
than this time last year.
“Compared to last month,
consumers’ expectations for employment increased but their expectations for the
broader economy slipped slightly,” said Shawn DuBravac, CEA’s chief economist
and director of research. “We also might be seeing the first signs of higher
commodity prices influencing consumer sentiment.”
Consumer confidence in
technology spending also fell in February. The CEA Index of Consumer Technology
Expectations (ICTE), which measures consumer expectations about technology
spending, dropped nearly twelve points this month to 76.2. It’s the lowest the
ICTE has been in ten months and down more than five points from this time last
year.
“Consumers indicated they
will spend less on consumer electronics, which is typically muted in the first
quarter of every year,” said DuBravac. “Some of the decline in sentiment is
related to consumers anticipating new product launches that happen in March for
many key products.”
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:
.
