The Consumer Electronics Association (CEA) today announced that consumer confidence in technology spending reached its highest level this year in August. The organization's "Consumer TEchnology Expectations" index improved to 87.2 this month, up one point from the index in July.
This increase in tech spending confidence happened while consumer confidence in the overall economy is falling. The CEA's "Consumer Expectations" index, fell to 162.6 this month, down 5.2 points from the July index. The Consumer Expectations index measures consumer confidence about the overall economy. This month's index is 6.1 points lower than the index one year ago.
“Consumer sentiment toward the overall economy softened this month,” said Shawn DuBravac, chief economist at CEA. “Tensions abroad could have consumers holding back on spending.”
The CEA stated that the good tech spending confidence should be good for back-to-school and holiday spending. Tech companies, including Apple and Amazon, are expected to announce their new yearly lineups of tablets and smartphones sometime in the coming months.
“Technology sentiment increased slightly in August, a positive sign for tech spending around back-to-school purchases,” said DuBravac. “Tech sentiment is in line with August 2012 levels and well above the 2009-2012 average.”
(Image courtesy Apple)