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CEA: Consumer Sentiment Increased in November
Dec 4, 2013
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Consumer confidence toward technology spending and toward the overall economy was up in November 2013, according to Consumer Electronics Association data.

CEA data showed that November consumer confidence toward technology spending was at the highest level seen in the month of November since 2009.

The Index of Consumer Technology Expectations (ICTE), measuring consumer expectations about technology spending, was up 2.7 points in November 2013, to 92.9.

Shawn DuBravac, CEA's chief economist and senior director of research, said tech spending sentiment was up going into the 2013 Black Friday weekend, which is considered the most important tech shopping weekend of the year.

The report showed that 31% of consumers planned to buy electronics over the Thanksgiving weekend. Of those consumers planning to buy electronics:
* 30% expected to buy a tablet
* 29% expected to buy a laptop computer
* 29% expected to buy a video game console
* 22% expected to buy a TV

The Index of Consumer Expectations (ICE), measuring consumer expectations about the broader economy, increased was up 4.7 points in November to 168.4, its highest level since November 2010.

"Consumers are feeling decidedly more optimistic about the economy," said DuBravac. "The equity markets continue to rally following resolution of the government shutdown. Gasoline prices have trended down, which is giving consumers more room to shop as we head into the holiday shopping season. All of these factors bode well for holiday sales. CEA's forecast that total holiday retail sales will increase 4% in 2013, remains intact."

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