The Consumer Electronics Association’s recent Index of Consumer Technology Expectations (ICTE) shows that consumer confidence toward tech spending in September was higher than it has been in years past, despite a small decrease from the previous ICTE report. The CEA expects to see solid growth in consumer spending throughout the remainder of the year and is optimistic about this year’s holiday selling season.
From the CEA
The latest data released by the Consumer Electronics Association (CEA) shows consumer confidence toward technology spending in September continues to track at elevated sentiment levels this year.
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, decreased slightly by 0.3 points in September to reach 90.2, remaining above the September average in recent years.
“The strong interest in newly released products from industry giants this month appears to be having a positive effect on consumer sentiment towards tech spending,” said Shawn DuBravac, CEA’s chief economist and senior director of research. “Expectations for solid growth in consumer spending over the back half of the year should support further spending on tech and optimism for the holiday selling season.”
The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, decreased by 3.8 points from last month to reach 168.7 in September.
“Economic sentiment was little changed in September, but headwinds still exist for the overall economy,” said DuBravac. “While geopolitical uncertainties are starting to weigh on consumer sentiment in Europe, they don’t yet appear to have had a fundamental impact on sentiment in the U.S. As consumer finances are strengthening overall, housing remains the most evident weakness.”
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.