Arlington, Va. – Consumer confidence in technology rose in
March, according to the latest Consumer Electronics Association (CEA) Index,
released today by the CEA.
The index also shows that consumer confidence in the overall
direction of the economy is down from last month.
Consumers’ confidence in technology rose more than two
points this month. The increase follows consecutive months of decline. The CEA
Index of Consumer Technology Expectations (ICTE), which measures consumer
expectations about technology spending, reached 78.5 in March, but remains five
points lower than this time last year.
“Many retailers are still waiting for new product lines to
be released, which is happening a few weeks later than it did last spring,”
said Shawn DuBravac, CEA’s chief economist. “While several new and innovative
products hit store shelves this month, the full breadth of new model resets has
yet to happen.”
Consumer confidence in the overall economy was down sharply
in March after a historic month globally. The CEA Index of Consumer Expectations
(ICE), which measures consumer confidence about the broader economy, fell more
than 10 points, to 161.4. The ICE is down for the second straight month and is
slightly lower than this time last year.
“Increasing geopolitical concerns around the globe and weak
results for the housing market domestically, coupled with the tragedy in Japan,
have kept consumers on edge,” said DuBravac. “Consumers are still adjusting to
higher gas prices, for example, which affect spending on the remaining
categories, including tech.”
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: