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CEA: Consumer Confidence in Economy Drops in March

ARLINGTON, VA.: Consumer confidence in technology improved in March, reaching its highest point so far in 2012, according to the latest Consumer Electronics Association index. Consumer confidence in the overall economy dropped slightly in March.

Consumer confidence in technology reached 88.9, its highest level since setting an all-time high of 93.6 in December 2011. The CEA Index of Consumer Technology Expectations, or ICE-T, measures consumer expectations about technology spending. The ICE-T rose more than three points from February and is more than 10 points higher than this time last year.

“New model launches this month, including televisions, smartphones and notably the release of Apple’s new iPad, are likely driving the increase in tech spending sentiment,” said Shawn DuBravac, CEA’s chief economist and senior director of research.

Consumer confidence in the overall economy dropped slightly in March. The CEA Index of Consumer Expectations, or ICE, fell a percentage point to 173.6. The ICE, which measures consumer expectations about the broader economy, is up more than 12 points from this time last year.

“Overall consumer sentiment about the economy remains high and consumers are feeling more optimistic than they did throughout 2011,” said DuBravac. “However the higher gasoline prices consumers are facing at the pump likely resulted in a slight dip in overall economic sentiment this month.”