Consumer Confidence Toward Tech Spending Up Slightly
Feb 27, 2014
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Consumer confidence toward both the overall economy and technology spending, as measured by the Consumer Electronics Association (CEA), both saw slight increases in February 2014.
One component, the Index of Consumer Expectations (ICE), tracking consumer expectations about the broader economy, was up 0.3 points from January 2014 to reach 167.6 in February.
“Consumers seem to be settling in after a long post-crisis adjustment,” said Shawn DuBravac, CEA’s chief economist and senior director of research. “Despite some uneasiness in the financial markets and some unrest abroad, consumers appear to be generally shrugging off news that would have weighed more heavily on sentiment in previous years.”
Another component, the Index of Consumer Technology Expectations (ICTE), measuring consumer expectations about technology spending, was up 0.5 points from January. February 2014 was up 6.8 points from February 2013.
“Consumer expectations toward tech spending look strong on a year-over-year basis,” said DuBravac. “The next 60 days or so will bring a slew of new technologies to the market, as consumers see products that were announced at the beginning of the year hit store shelves.”
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