CEA: June's Consumer Sentiment on Economy and Tech Spending Hit 2014 Highs
Jul 9, 2014
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Consumer confidence toward both the overall economy and technology spending, as measured by the Consumer Electronics Association (CEA), both increased in June 2014 to hit their highest levels of the year.
CEA's Index of Consumer Expectations (ICE), tracking consumer expectations about the overall economy, rose four points from May 2014 to hit 170.7 in June.
“Negative effects from the first quarter seem to have dissipated and consumers are feeling more optimistic about the coming months,” said Shawn DuBravac, CEA’s chief economist and senior director of research. “While there remains a myriad of concerns, including the housing market, the fundamental economy is firming and economic growth is returning to a positive trajectory.”
The Index of Consumer Technology Expectations (ICTE), tracking consumer expectations about technology spending, was up three points in June to hit 91.2.
The June 2014 ICTE was at the highest year-over-year level for the month of June since tracking of this index began in 2007.
“Sentiment toward tech spending is benefitting from an improving consumer outlook,” said DuBravac. “Also, the growing anticipation for new product launches could be increasing appetite for tech.”
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