Consumer Confidence Toward Overall Economy, Tech Spending Increased Slightly in February, According to CEA's Monthly Indexes
"Consumers seem to be settling in after a long post-crisis adjustment"
Arlington, Va., February 25, 2014 -Consumer confidence toward both the overall economy and technology spending both saw slight increases in February, according to the latest figures released today by the Consumer Electronics Association (CEA)®.
The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, increased by 0.3 points from last month to reach 167.6 in February.
"Consumers seem to be settling in after a long post-crisis adjustment," said Shawn DuBravac, CEA's chief economist and senior director of research. "Despite some uneasiness in the financial markets and some unrest abroad, consumers appear to be generally shrugging off news that would have weighed more heavily on sentiment in previous years."
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, also held steady from January, increasing by 0.5 points. February saw a jump of 6.8 points year-over-year. Year-over-year, the ICTE jumped 6.8 points from last February's measurement.
"Consumer expectations toward tech spending look strong on a year-over-year basis," said DuBravac. "The next 60 days or so will bring a slew of new technologies to the market, as consumers see products that were announced at the beginning of the year hit store shelves."
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. To find current and past indexes, charts, methodology and future release dates, log on to CEAindexes.org.
The Consumer Electronics Association (CEA) is the technology trade association representing the $208 billion U.S. consumer electronics industry. More than 2,000 companies enjoy the benefits of CEA membership, including legislative advocacy, market research, technical training and education, industry promotion, standards development and the fostering of business and strategic relationships. CEA also owns and produces the International CES - The Global Stage for Innovation. All profits from CES are reinvested into CEA's industry services. Find CEA online at www.CE.org, www.DeclareInnovation.com and through social media.