Arlington, Va. — Consumer sentiment toward the overall economy reached a record level in December, the Consumer Electronics Association said with the release of its monthly indexes.
Consumer sentiment toward tech spending, however, decreased in December.
The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, jumped 7.3 points from last month to reach 180.1 in December — the highest ICE level since the CEA indexes began tracking in January 2007.
“Seasonal consumer confidence in the overall economy coupled with declining gasoline prices has sentiment toward the overall economy reaching record levels for December,” said Shawn DuBravac, chief economist, CEA.
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, slipped 5.7 points in December to 88.6.
“Sentiment toward tech spending performed well in November and ahead of the popular Thanksgiving shopping weekend,” said DuBravac. “But we’re seeing a decrease in sentiment in December, as tech spending was pulled forward into the November sales.”
According to CEA’s holiday outlook, total tech spending over the duration of the holidays will increase 2.5 percent — up from 0.9 percent growth in 2013 — to reach a record $33.76 billion during the entire 2014 holiday season. To view CEA’s full 2014 holiday outlook, visit CE.org/holiday.
The indexes are updated on a monthly basis through consumer surveys. New data is released on the fourth Tuesday of each month. To find current and past indexes, charts, methodology and future release dates, log on to CEAindexes.org.