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Consumer sentiment toward technology spending and the overall economy shows strong readings for January after record highs in December, according to the latest data released today by the Consumer Electronics Association (CEA).
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, increased 0.3 points in January to reach 88.9. This month’s level is 5.2 points higher year-over-year for the month of January.
“Momentum from the holiday season is spilling into the new year, with consumer confidence toward technology spending retaining the record-high levels established last month,” said Shawn DuBravac, Ph.D., chief economist, CEA and author of CEA’s recently released book and New York Times best-seller Digital Destiny: How the New Age of Data Will Transform the Way We Work, Live, and Communicate.
The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, fell 2.2 points from December to 177.9. However, this month’s ICE jumped 10.6 points compared to January last year.
“The higher-than-normal economic sentiment is buoyed by low gasoline prices and a conducive economic environment for the consumer in the new year,” said Dr. DuBravac.
The CEA Indexes are updated on a monthly basis through consumer surveys. New data is released on the fourth Tuesday of each month. 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 $223 billion U.S. consumer electronics industry. More than 2,000 companies enjoy the benefits of CEA membership, including legislative and regulatory 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: http://www.ce.org/social