Arlington, Va. — Consumer confidence in both the broader economy and technology spending decreased in May, according to the latest figures released today by the Consumer Electronics Association (CEA).
The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, fell 2.9 points in May to 159.7.
This month’s ICE is 5.2 points lower than May of last year. “Confidence in the overall economy slid slightly this month,” said Shawn DuBravac, CEA’s chief economist and research senior director. “Despite improving fundamentals in real estate and financial markets, consumers remain apprehensive.”
The CEA Index of Consumer Technology Expectations (ICTE) fell 4.1 points in May to 79. The ICTE, which measures consumer expectations about technology spending, is down for the second consecutive month.
“Sentiment toward technology also fell this month,” said DuBravac. “While key categories like tablets and smartphones continue to experience gains, growth outside these categories remains muted.”
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.