|By Business Wire||
|August 27, 2013 10:01 AM EDT||
Consumer confidence toward technology spending reached the highest level in 2013, while sentiment toward the overall economy dipped in August, according to the latest figures released today by the Consumer Electronics Association (CEA)®.
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, increased by 1 point in August to 87.2. The ICTE edged past July’s level to reach the highest point so far in 2013.
“Technology sentiment increased slightly in August, a positive sign for tech spending around back-to-school purchases,” said Shawn DuBravac CEA’s chief economist and senior director of research. “Tech sentiment is in line with August 2012 levels and well above the 2009-2012 average.”
The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, decreased 5.2 points in August to 162.6. The ICE remains 6.1 points lower than August of 2012.
“Consumer sentiment toward the overall economy softened this month,” said DuBravac. “Tensions abroad could have consumers holding back on spending.”
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. 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 $203 billion U.S. consumer electronics industry. More than 2,000 companies enjoy the benefits of CEA membership, including legislative 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.
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