CEA: Consumer Confidence in Tech Spending Falls24 Jan, 2013 By: Chris Tribbey
Consumer confidence in the overall economy and technology both fell in January, according to the Consumer Electronics Association’s (CEA) Index of Consumer Expectations, declines that are consistent with the post-holiday period in previous years.
Consumer confidence in the economy decreased in January three points from December and is down 9.3 points year-over-year, according to the CEA.
“Overall economic sentiment decreased slightly in January after the spike from the holiday season,” said Shawn DuBravac, CEA’s chief economist and senior director of research. “Consumers are taking a wait-and-see approach to the New Year.”
The CEA’s technology index, which measures consumer expectations about tech spending, fell 14.3 points in January.
“These declines are consistent with seasonality of the post-holiday season,” said DuBravac. “As we saw earlier this month at the 2013 International CES, excitement is high for the innovative tech products we will see hit the market later this year.”
CEA has been tracking index data since January 2007.