Consumer Sentiment toward Overall Economy and Tech Spending Dip in December, says Consumer Technology Association
Consumer confidence toward the overall economy and technology spending both decreased in December, according to the latest data released today by the Consumer Technology Association (CTA)™, formerly the Consumer Electronics Association (CEA)®.
The CTA Index of Consumer Expectations (ICE), which measures consumer sentiment about the U.S. economy as a whole, decreased 3.9 points in December to 168.7.
"Despite improving fundamentals such as a strengthened labor market, solid consumer spending and lower energy prices, December's dip in consumer confidence toward the overall economy is evidence of a cautious consumer," said Shawn DuBravac, Ph.D., chief economist, Consumer Technology Association. "Lower sentiment levels suggest some possible weakness to the end of the holiday season."
The CTA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, dropped 3.9 points to 88.2 in December. Both CTA Index readings are lower year-over-year for the month of December since 2009.
"A decrease in the ICTE is likely due to consumers retrenching following a heavy holiday shopping period," said DuBravac. "Yet, as with consumer confidence toward the overall economy, I expect tech spending to pick up as fundamentals continue to improve in 2016."
The CTA Indexes are updated on a monthly basis through consumer surveys. New data is released on the fourth Tuesday of each month. Find current and past indexes, charts, methodology and future release dates, on the CTA Indexes page.
About Consumer Technology Association:
Consumer Technology Association (CTA)TM, formerly Consumer Electronics Association (CEA)®, is the trade association representing the $285 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. CTA also owns and produces CES® – the world's gathering place for all who thrive on the business of consumer technology. Profits from CES are reinvested into CTA's industry services.
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