|[November 27, 2012]
Consumer Confidence in Technology Rises, But Confidence in Overall Economy at Lowest Level of the Year, According to CEA
ARLINGTON, Va. --(Business Wire)--
Consumer confidence in technology inched higher in November, while
confidence in the overall economy sunk to the lowest level of 2012,
according to the latest CEA Index released today by the Consumer
Electronics Association (CEA)®.
The CEA Index of Consumer Technology Expectations (ICTE), which measures
consumer expectations about technology spending, rose by 0.3 points,
reaching 88.0 in November.
"Coming off a strong
Black Friday weekend dominated by tech buying, consumer sentiment is
looking up for tech," said Shawn DuBravac, CEA's chief economist and
senior director of research. "Electronics were the second most purchased
item this weekend, behind only clothes. A third of all spending between
Thursday and Monday was on technology products."
Conversely, consumer confidence in the overall economy dipped to the
lowest point of 2012 in November. The CEA Index of Consumer Expectations
(ICE) fell 15.1 points from last month. The ICE, which measures consumer
expectations about the broader economy, is down to 162.6 this month but
remains nearly six points higher than last November.
"The economy continues to be a major factor in driving overall consumer
CEA research showed that more than half of U.S. adults said the
risks around the fiscal cliff would negatively impact their spending
expectations this holiday season," said DuBravac. "The media cycle moved
from the election directly into the fiscal cliff and this month's
consumer sentiment suggests people are beginning to internalize what a
negative outcome could mean to them."
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 (News - Alert) (CEA) is the preeminent trade
association promoting growth in the $206 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 (News - Alert) - The
Global Stage for Innovation. All profits from CES are reinvested into
CEA's industry services. Find CEA online at www.CE.org,
and through social media: https://www.facebook.com/#!/CEAfeed,
2013 International CES
January 8-11, 2013, Las Vegas, NV
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