Arlington, VA – 05/22/2012 – Consumer confidence in technology increased in May, while consumer confidence in the overall economy dropped, according to the latest CEA Index released today from the Consumer Electronics Association (CEA)®
The CEA Index of Consumer Technology Expectations (ICTE) reached 88.2 in May, an increase of nearly four points from last month. The ICTE, which measures consumer expectations about technology spending, is up seven points from this time last year.
“The sharp upward move in sentiment we saw in May continues the positive year-over-year trend we’ve witnessed for the last several months,” said Shawn DuBravac, CEA’s chief economist and senior director of research.
Consumer confidence in the overall economy, however, fell in May. The CEA Index of Consumer Expectations (ICE) fell three points in May to 167.8, marking the fourth straight month of decline. The ICE, which measures consumer expectations about the broader economy, remains almost four points higher than this time last year.
“Recent sluggishness in the labor market, combined with continued malaise in Europe, is keeping sentiment in check,” said DuBravac. “While sentiment declined again this month, consumers remain more optimistic about the economy than they were a year ago.”
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 $195 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 owns and produces 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, www.DeclareInnovation.com and through social media.