Report: Consumer Confidence in Technology At Highest Level in a Year
Dec 9, 2011
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Consumer confidence in technology was at its highest point in 2011 in the month of November even as confidence in the economy, as measured by the Consumer Electronics Association (CEA), sunk to an all-time low.
"Tech continues to grow and remains well above year-over-year levels on the heels of the strongest monthly gains for electronics and appliance retail sales since November 2009,” said Shawn DuBravac, CEA’s chief economist and director of research. “Strong retail sales in October, coupled with growing consumer intentions to purchase innovative new technologies, is well timed as we move fully into the holiday shopping season this week.”
Consumer expectation for technology spending was up almost two points in November 2011, sending the Index of Consumer Technology Expectations (ICTE) to 91.2, its highest level since December 2010. The ICTE is also up 12 points from November 2010.
But consumer confidence as measured by the CEA Index of Consumer Expectations (ICE) fell to 156.6 in November 2011, down three points from October 2011 and the lowest point since the ICE began in 2007. The ICE was down 10 points from November 2010.
“The Super Committees’ inability to come to a debt reduction compromise in Washington is clearly impacting sentiment across the country,” said DuBravac. “Consumers remain uncertain about the near term and long term viability of the U.S. economy.”
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