CEA: Consumer Confidence Slides in April
Down on tech and in general
April 22, 2014
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.”