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Tech Spending Confidence Rebounds in June, According to Monthly CTA IndexesConsumer confidence toward tech spending rebounded in June in line with historical seasonal levels, as sentiment toward the overall economy dropped this month, according to the Consumer Technology Association (CTA)™ Indexes. Technology Spending The CTA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, jumped 10 points in June to reach 87.5, in line with historical seasonal trends and only 0.3 points below June 2015. "Tech spending confidence improved significantly in June and returned to seasonal levels after last month's deviation," said Shawn DuBravac, Ph.D., chief economist, Consumer Technology Association. "If tech sentiment is maintained, this month's rebound bodes well and suggests strength for the second half of the year. Additionally, as a share of total consumer spending, tech has been inching higher over the last 6 months, a sign that consumers are allocating an increasing share of dollars towards tech." Overall Economy The CTA Index of Consumer Expectations (ICE), which measures consumer sentiment about the U.S. economy as a whole, dropped nine points in June to 171.3. "The drop in sentiment toward the overall economy is likely due to higher gas prices over the last month and increased global uncertainty amidst the Brexit vote in the United Kingdom last week," said DuBravac. "Equity markets slid and uncertainty rose, putting downward pressure on sentiment." The CTA Indexes are updated on a monthly basis through consumer surveys. New ata is released on the fourth Tuesday of each month. Find current and past indexes, charts and methodology on the CTA Indexes page. About Consumer Technology Association: Consumer Technology Association (CTA)TM is the trade association representing the $287 billion U.S. consumer technology industry. More than 2,200 companies - 80 percent are small businesses and startups; others are among the world's best known brands - enjoy the benefits of CTA membership including policy advocacy, market research, technical education, industry promotion, standards development and the fostering of business and strategic relationships. The Consumer Technology Association also owns and produces CES (News - Alert)® - the world's gathering place for all who thrive on the business of consumer technologies. Profits from CES are reinvested into CTA's industry services. UPCOMING EVENTS
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