Consumer confidence in the overall economy was down in February 2011, according to the Consumer Electronics Association (CEA). CEA Indexes show consumer confidence in technology spending is down as well.
After increasing for six months and reaching a 35-month high in January, the Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, dropped to 172. The ICE is still seven points higher than this time last year.
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, dropped to 76.2. It’s the lowest the ICTE has been in ten months and down more than five points from this time last year.
“Consumers indicated they will spend less on consumer electronics, which is typically muted in the first quarter of every year,” said DuBravac. “Some of the decline in sentiment is related to consumers anticipating new product launches that happen in March for many key products.”
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