Trade group measurement forsees more spending on technology
- December 28, 2011
Consumer expectations about technology spending reached a yearly high in December, while confidence in the overall economy also improved this month.
The Arlington-based Consumer Electronics Association (CEA) reported that its measurement of consumer confidence in technology reached its highest level of the year and second highest level ever during December. The CEA Index of Consumer Technology Expectations (ICTE) reached 93.6, up more than two points from last month. The ICTE, which measures consumer expectations about technology spending, is nearly even with this time last year, when the ICTE reached a record-high of 93.7.
“Looking ahead to 2012, consumer tech remains well positioned compared to all other durable good categories,” Shawn DuBravac, CEA’s chief economist and director of research, said in a statement.
Confidence in the economy also increased this month after reaching an all-time low in November. The CEA Index of Consumer Expectations (ICE) reached 170.7, an increase of more than 14 points. The ICE, which measures consumer expectations about the broader economy, is at its highest point since February but remains down four points from this time last year.
The improvement in ICE results mirrors The Conference Board’s widely followed Consumer Confidence Index, which rose nearly 9 points in its latest survey..
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.
The Consumer Electronics Association (CEA) is a trade association representing more than 2,000 conmpanies in the $190 billion U.S. consumer electronics industry.