CEA's Measure of Consumer Confidence Increases
Mar 29, 2013
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Consumer confidence survey results from the Consumer Electronics Association (CEA) don't agree with the latest Index from the Conference Board. While the Conference Board index showed a decrease in consumer confidence in March 2013, the CEA Index showed better levels of confidence in the overall economy and sentiment toward technology.
The two components of the CEA index increased in March 2013 following declines January and February. The indexes, however, are still below their levels in March 2012.
The Index of Consumer Expectations (ICE), tracking consumer expectations about the economy, was up 4.2 points in March to 169.5. The March 2013 ICE is down 4.1 from March 2012.
"Sentiment rose this month as consumers continue to benefit from improving wealth effects," said Shawn DuBravac, CEA's chief economist and senior director of research. "Equity prices are up over four percent in the last month and the housing market continues to improve."
The Index of Consumer Technology Expectations (ICTE) was up 2.5 points in March 2013, to stand at 79.9. The ICTE measures consumer expectations about technology spending and is down nine points from March 2012.
"Despite lower sentiment levels than this time last year, the economy continues to exhibit strength," said DuBravac. "Consumers are perhaps generally shrugging off higher payroll taxes, sequestration and uncertainty from across the Atlantic."
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