CONSUMER CONFIDENCE IN OVERALL ECONOMY HIGHEST IN 35 MONTHS, ACCORDING TO CEA INDEXES
Arlington, VA – 01/25/2011 – Consumer confidence in the overall economy reached its highest level in nearly three years this month, according to the latest figures released today by the Consumer Electronics Association (CEA)®
. The CEA Indexes also show consumer confidence in technology reached an all-time high for the month of January.
For the sixth consecutive month, consumer confidence in the overall direction of the economy improved. The CEA Index of Consumer Expectations (ICE) rose one point in January to 175.7. That’s the highest the ICE has been since February of 2008. The ICE, which measures consumer expectations about the broader economy, is up more than nine points from this time last year.
“The economy continues to improve and individuals are taking note,” said Shawn DuBravac, CEA’s chief economist and director of research. “With consumer sentiment higher than it has been since early 2008, and six straight months of growth, consumers are feeling better about the economy and their financial futures.”
Consumer confidence in technology is the highest it’s ever been in the month of January, despite dropping from last month’s record high. The CEA Index of Consumer Technology Expectations (ICTE) fell 5.6 points to 88.1 this month. The ICTE, which measures consumer expectations about technology spending, still recorded its highest level ever for the month of January and is up more than four points from this time last year.
“Spending on technology is influenced by regular seasonal purchasing patterns and in December, technology was atop every consumer’s holiday wish list,” said DuBravac. “While a drop from December to January has happened every year of the index, the record high this January suggests consumers are still showing a willingness to purchase tech.”
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 (CEA) is the preeminent trade association promoting growth in the $165 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 sponsors and manages the International CES – The Global Stage for Innovation. All profits from CES are reinvested into CEA’s industry services. Find CEA online at www.CE.org.