"Negative effects from the first quarter seem to have dissipated and consumers are feeling more optimistic about the coming months"
Arlington, Va., June 24, 2014 - Consumer confidence toward both the overall economy and technology spending saw solid increases in June and reached their highest levels of 2014, 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 four points from last month to reach 170.7 in June, the highest level so far in 2014.
"Negative effects from the first quarter seem to have dissipated and consumers are feeling more optimistic about the coming months," said Shawn DuBravac, CEA's chief economist and senior director of research. "While there remains a myriad of concerns, including the housing market, the fundamental economy is firming and economic growth is returning to a positive trajectory."
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, increased by three points in June to reach 91.2, its highest level of this year. This month's ICTE is the highest year-over-year level for the month of June since the CEA Index began tracking in 2007.
"Sentiment toward tech spending is benefitting from an improving consumer outlook," said DuBravac. "Also, the growing anticipation for new product launches could be increasing appetite for tech."
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.