Consumer confidence toward the overall economy and technology spending both decreased in December, according to the latest data released today by the Consumer Technology Association (CTA)™, formerly the Consumer Electronics Association (CEA)®.
Overall Economy
The CTA Index of Consumer Expectations (ICE), which measures consumer sentiment about the U.S. economy as a whole, decreased 3.9 points in December to 168.7.
“Despite improving fundamentals such as a strengthened labor market, solid consumer spending and lower energy prices, December’s dip in consumer confidence toward the overall economy is evidence of a cautious consumer,” said Shawn DuBravac, Ph.D., chief economist, Consumer Technology Association. “Lower sentiment levels suggest some possible weakness to the end of the holiday season.”
Technology Spending
The CTA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, dropped 3.9 points to 88.2 in December. Both CTA Index readings are lower year-over-year for the month of December since 2009.
“A decrease in the ICTE is likely due to consumers retrenching following a heavy holiday shopping period,” said DuBravac. “Yet, as with consumer confidence toward the overall economy, I expect tech spending to pick up as fundamentals continue to improve in 2016.”
The CTA Indexes are updated on a monthly basis through consumer surveys. New data is released on the fourth Tuesday of each month. Find current and past indexes, charts, methodology and future release dates, on the CTA Indexes page.
