ARLINGTON, Va.--()--Consumer confidence in technology improved in March, reaching its highest point so far in 2012, according to the latest CEA Index released today by the Consumer Electronics Association (CEA)®. Consumer confidence in the overall economy dropped slightly in March.
“However the higher gasoline prices consumers are facing at the pump likely resulted in a slight dip in overall economic sentiment this month.”
Consumer confidence in technology reached 88.9, its highest level since setting an all-time high of 93.6 in December 2011. The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, is up more than three points from February and is more than 10 points higher than this time last year.
“New model launches this month, including televisions, smartphones and notably the release of Apple’s new iPad, are likely driving the increase in tech spending sentiment,” said Shawn DuBravac, CEA’s chief economist and senior director of research.
Consumer confidence in the overall economy dropped slightly in March. The CEA Index of Consumer Expectations (ICE) fell a percentage point to 173.6. The ICE, which measures consumer expectations about the broader economy, is up more than 12 points from this time last year.
“Overall consumer sentiment about the economy remains high and consumers are feeling more optimistic than they did throughout 2011,” said DuBravac. “However the higher gasoline prices consumers are facing at the pump likely resulted in a slight dip in overall economic sentiment this month.”
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 preeminent trade association promoting growth in the $195 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; https://www.facebook.com/#!/CEAfeed, http://twitter.com/ceafeed, http://blog.ce.org/.
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