ARLINGTON, 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 year.”
(Image by ImageMD)
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