CEA Index: Consumer Confidence Slips in February
Mar 1, 2013
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Consumer confidence in the economy and sentiment about the technology sector were both down again in February's Index from the Consumer Electronics Association (CEA).
One Index component, the Index of Consumer Expectations (ICE), measures consumer expectations about the economy. The ICE fell 2.7 points in February to 165.3, making it the second month of decline in consumer confidence in the overall economy.
The Index of Consumer Technology Expectations (ICTE), measuring consumer expectations about technology spending, was down 5.6 points in February 2012, to 77.4.
Shawn DuBravac, CEA's chief economist and senior director of research, said some of the ICTE decrease may be the result of seasonal factors.
"The 2% payroll tax increase that went into effect at the beginning of the year is likely starting to have an impact on consumer purchasing decisions," said DuBravac. "Moreover, consumers remain concerned about U.S. fiscal policy as they attempt to internalize the potential impact from the impeding federal budget sequestration."
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