Consumer confidence on Tech Spending rose slightly in April, says CTA

SEATTLE (Scrap Monster): According to latest data released by the Consumer Technology Association (CTA), the consumer confidence towards technology spending has increased further slightly during the month of April this year. This is the third consecutive month that the consumer tech sentiment has risen. However, the sentiment with regards to country’s overall economy dropped during the month.

The CTA’s Index of Consumer Technology Expectations (ICTE) increased marginally by 0.7 points to 87.10 in April this year. According to CTA, there has been an increasing demand for emerging category of products such as smartwatches and smart home devices. Studies indicate that smartwatch sales are expected to reach 13.6 million units in 2016, rising higher significantly by nearly 28% when matched with the previous year.

On the other hand, the CTA Index of Consumer Expectations (ICE) dropped by 4.4 points to 174.3 in Apr ’16. The index, which had dropped towards the end of 2015, had managed to rebound during the start of the New Year, but had again declined in Feb ’16. According to Shawn DuBravac, Ph.D., chief economist, Consumer Technology Association, the consumer confidence towards overall economy lifted in March, amid worries of economic slowdown and stock market drop. However, the drop in April is mainly on account of a number of economic indicators including housing, retail and industrial output suggesting economic slowdown in the country.

The CTA Indexes are updated every month based on the findings of surveys conducted by the Association.

Consumer Technology Association (CTA), formerly Consumer Electronics Association (CEA), is the trade association representing the $287 billion U.S. consumer technology industry. More than 2,200 companies enjoy the benefits of CTA membership including policy advocacy, market research, technical education, industry promotion, standards development and the fostering of business and strategic relationships.