Arlington, Va. — Consumer confidence toward both the overall economy and technology spending saw slight increases in February, according to the latest figures released by the Consumer Electronics Association (CEA).
The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, increased by 0.3 points from last month to reach 167.6 in February.
“Consumers seem to be settling in after a long post-crisis adjustment,” said Shawn DuBravac, CEA’s chief economist and research senior director. “Despite some uneasiness in the financial markets and some unrest abroad, consumers appear to be generally shrugging off news that would have weighed more heavily on sentiment in previous years.”
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, also held steady from January, increasing by just a half point. February saw a jump of 6.8 points year over year.
“Consumer expectations toward tech spending look strong on a year-over-year basis,” said DuBravac. “The next 60 days or so will bring a slew of new technologies to the market, as consumers see products that were announced at the beginning of the year hit store shelves.”
The ICE and ICTE 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.