CEA: Consumer Confidence Slides in April

Down on tech and in general April 22, 2014
ARLINGTON, VA.— Consumer confidence toward technology spending and the overall economy both decreased in April, according to the latest figures released today by the Consumer Electronics Association.
The CEA Index of Consumer Expectations, which measures consumer expectations about the broader economy, decreased by 2.7 points from last month to 167.5 in April. 
“The first quarter’s weather hindered an already tepid economic recovery,” said Shawn DuBravac, CEA’s chief economist and senior director of research. "Despite this month’s slip in consumer sentiment, I expect the economic draw back that began in the first quarter will continue to improve in the coming months.”
The CEA Index of Consumer Technology Expectations, which measures consumer expectations about technology spending, decreased by 2.7 points in April to 87.7. However, the April 2014 ICTE is at the highest level for the month of April since 2011.
“On most accounts the first quarter was tough for the tech industry,” DuBravac said. “April’s sentiment numbers likely reflect that but as the economy improves in the second quarter, I expect consumer sentiment will follow suit.”

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