CEA: Tech Spending, Economic Outlook Steady - Twice

CEA: Tech Spending, Economic Outlook Steady

Arlington, Va. - Consumer confidence toward the overall economy and technology spending in December both remain steady relative to last month’s elevated sentiment levels, according to the latest figures released today by the Consumer Electronics Association (CEA).
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Arlington, Va. - Consumer confidence toward the overall economy and technology spending in December both remain steady relative to last month’s elevated sentiment levels, 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, increased by 0.1 point in December to reach 168.5, staying consistent with last month’s ICE.

Consumers are closing out the year with a decidedly optimistic view as the sentiment index recovers lost ground from earlier this year,” said Shawn DuBravac, CEA’s chief economist and senior director of research. “Recent announcements regarding Federal Reserve policy, as well as improving economic fundamentals, reaffirms that 2014 will begin on more solid footing than we’ve seen in the last five years.”

The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, fell by 2.7 points in December to 90.2.

“Despite a small decrease, December sentiment levels are holding onto the positive momentum gained in October and November,” said DuBravac. “We are watching tech sentiment closely as key areas of growth – namely tablets and smartphones – will begin to slow naturally in 2014. However, several areas, such as wearable tech devices, will see gains as consumer awareness about these products continues to increase.”

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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