Consumer confidence toward overall economy and technology spending declined in Jan: CEA

WASHINGTON (Scrap Monster): Consumer confidence toward the overall economy and technology spending both saw decreases in January, 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, decreased by 1.7 points from December to reach 166.8 in January.  
                                                                                
“The slight downward shift in overall economic sentiment is unsurprising, given early declines in equity markets to start 2014,” said Shawn DuBravac, CEA’s chief economist and senior director of research. “Gasoline prices have also inched higher over the last few weeks, placing further pressure on consumer sentiment.”

The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, slid 7.1 points in January to 83.1, but held steady year-over-year by an increase of 0.1 point.

“At the beginning of each year, we see seasonal declines in technology sentiment following the holiday season spike, and 2014 has started with this typical pattern,” said DuBravac. “However, the consumer electronics market is starting 2014 on stable footing as the underlying economy continues to improve.”

 
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.

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.

Courtesy: Consumer Electronics Association