Consumer confidence toward technology spending, as measured by the Consumer Electronics Association (CEA), reached its highest month-of-March level in seven years, and sentiment toward the overall economy also increased.
The association's Index of Consumer Technology Expectations (ICTE) measures consumer expectations about technology spending. The ICTE in March 2014 was up 6.2 points from the previous month, to 90.4. The ICTE was up 11.2 points from March 2013. It was the highest level the index has reached during any month of March since the association started tracking the data in 2007.
“The increase in sentiment toward tech spending is a promising sign and bodes well for strength in the sector in the coming months,” said Shawn DuBravac, CEA chief economist and senior director of research. “Although the year started off as a disappointing first quarter for the technology sector, the jump in confidence might point to an ensuing lift driven by some pent up demand.”
The association's Index of Consumer Expectations (ICE) measures consumer expectations about the broader economy. The March 2014 index was up 2.5 points from the previous month, to 170.2.
"Despite the negative drag from several severe weather events in the first quarter, consumers are feeling more optimistic,” said DuBravac. "I’m expecting a ‘weather payback’ in the coming months as uncertainty recedes and the employment picture continues to improve."
to Daily News