Consumer Confidence in Technology Reaches All-Time High
Consumer confidence in technology
reached the highest level in the history of the CEA Index, according to the
latest figures released by the Consumer Electronics Association. Consumer
expectations about the overall economy increased slightly over last month.
The CEA Index of Consumer Technology Expectations, which
measures consumer expectations about technology spending, rose 9.3 points,
reaching 97.3 in December. The ICTE reached the highest level since tracking
began in January 2007, and is up 3.7 points from this time last year.
“Technology products are the most wanted gifts this holiday
season, and we’ve seen a tremendous amount of activity, with several new
product launches over the past few months,” said Shawn DuBravac, CEA’s chief
economist and senior director of research. “Consumers are increasingly
dedicating a significant portion of their overall gift budgets to electronics,
which has crowded out other categories for holiday gift spending.”
Consumer confidence in the overall economy also increased in
December. The CEA Index of Consumer Expectations, which measures consumer expectations
about the broader economy, reached 171.1 in November, up 8.5 points from the
previous month and up 0.4 points year-over-year.
“Overall economic sentiment increased slightly in December but
remains subdued,” said DuBravac. “Concerns remain over the immediacy of the
fiscal cliff, and the impact it will have on U.S. households and the broader
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.
— TV Technology