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).
Technology Spending
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.
Overall Economy
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.
