Consumer Confidence in Technology Reaches All-Time High
ARLINGTON, VA. –Consumer confidence in technology reached the highest level in the
history of the CEA Index, according to the latest figures released by the Consumer
Electronics Association. Consumer expectations about the overall economy
increased slightly over last month.
The CEA Index of Consumer Technology Expectations, which measures consumer
expectations about technology spending, rose 9.3 points, reaching 97.3 in
December. The ICTE reached the highest level since tracking began in January
2007, and is up 3.7 points from this time last year.
“Technology products are the most wanted gifts this holiday season, and we’ve
seen a tremendous amount of activity, with several new product launches over
the past few months,” said Shawn DuBravac, CEA’s chief economist and senior
director of research. “Consumers are increasingly dedicating a significant
portion of their overall gift budgets to electronics, which has crowded out
other categories for holiday gift spending.”
Consumer confidence in the overall economy also increased in December. The CEA Index
of Consumer Expectations, which measures consumer expectations about the
broader economy, reached 171.1 in November, up 8.5 points from the previous
month and up 0.4 points year-over-year.
“Overall economic sentiment increased slightly in December but remains
subdued,” said DuBravac. “Concerns remain over the immediacy of the fiscal
cliff, and the impact it will have on U.S. households and the broader U.S.
The CEA Indexes comprise the ICE and ICTE, both of which are updated on a
monthly basis through consumer surveys. New data is released on the fourth
Tuesday of each month. CEA has been tracking index data since January 2007.