Consumer confidence in technology and the overall economy both increased in April, according to the latest CEA Indexes released by the Consumer Electronics Association (CEA).
The CEA Index of Consumer Technology Expectations (ICTE) increased four points this month to 82.4. The ICTE, which measures consumer expectations about technology spending, grew for the second consecutive month and is 10 points higher than this time last year.
“New model and product launches making headlines this month are likely driving consumer interest in spending on consumer tech,” said Shawn DuBravac, CEA’s chief economist and director of research. “New models for traditional categories, together with tablets, smartphones and gaming devices, have raised consumer sentiment heading into the second quarter of the year.”
Consumers are also feeling more confident about the overall direction of the economy. The CEA Index of Consumer Expectations (ICE) rose five points in April to 166.2. The ICE, which measures consumer expectations about the broader economy, is up for the first time since January and is more than two points higher than this time last year.
“Consumer sentiment improved this month despite continued concerns and uncertainty over the stability of U.S. credit quality,” said DuBravac. “But Americans are feeling more confident about the job market as companies indicate an increasing willingness to hire, easing concerns and leading to greater confidence in the economy.”
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.