/ 04.26.2011 12:00AM
CEA Finds Faith in Tech and Overall Economy
ARLINGTON, VA.: Consumer confidence in technology and the
overall economy both increased in April, according to the Consumer Electronics
Association. The lobby’s Index of Consumer Technology Expectations--it’s ice
tea--increased four points this month to 82.4. The ICTE measures consumer
expectations about technology spending. It rose for the second consecutive
month and is 10 points higher than this time last year.
“New model and product launches making headlines this month are likely driving
consumer interest in spending on consumer tech,” said Shawn DuBravac, CEA’s
chief economist and director of research. “New models for traditional
categories, together with tablets, smartphones and gaming devices, have raised
consumer sentiment heading into the second quarter of the year.”
Consumers are also feeling more confident about the overall direction of the
economy. The CEA’s Index of Consumer Expectations--just plain “ice”--rose five
points in April to 166.2. The ICE measures consumer expectations about the
broader economy, is up for the first time since January and is more than two
points higher than this time last year. It plunged in March on concerns of
geopolitical instability and the natural disasters in Japan.
“Consumer sentiment improved this month despite continued concerns and
uncertainty over the stability of U.S. credit quality,” DuBravac said. “But
Americans are feeling more confident about the job market as companies indicate
an increasing willingness to hire, easing concerns and leading to greater
confidence in the economy.”
The CEA updates its ice and its ice tea monthly with random-digit dial phone
surveys of 1,000 respondents. CEA’s been collecting the data since 2007. The
indices hold rough parity with the University of Michigan’s Index of Consumer
Sentiment.