CEA: Consumer Confidence in Overall Economy Highest in Nearly Four Years
VA.: Despite record numbers of home foreclosures and
nationwide Occupy protests over the state of the economy, consumer confidence
is on the rise. That’s the latest verdict from the Consumer
Electronics Association’s monthly economic survey. The
CEA’s Index of Consumer Expectations--the ICE--indicates that
consumer confidence in the overall economy is the highest it’s been
since February of 2008, and at the second highest level for January.
ICE registered a 177.3, up four points from December, and two points from
January of 2011--the highest for the entire year.
“Sentiment has improved by more than 13 percent in the past two
months, which is a hopeful sign of consumer expectations for recovery in
2012,” said the CEA’s chief economist and research
director, Shawn DuBravac.
The CEA also measures consumer confidence in technology, which, according to
tradition, fell in January. The CEA Index of Consumer Technology
Expectations--the Ice T--dropped to 88, down five-and-a-half points from
December. The Ice T, which measures consumer expectations about technology
spending, remains consistent with this time last year.
“On a seasonal basis, tech sentiment is even with this time last year
and the three-month average remains near an all-time high,” said
DuBravac. “We always expect a lull in tech spending coming off the
holiday season and heading into the model resets in March. But as we saw
earlier this month at the 2012 International CES, excitement remains high for
the new and innovative tech products hitting the market this
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