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Consumer Confidence in US Economy and Tech Sector Reflect Seasonal Declines

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Consumer confidence in the USA economy and technology both fell in January, according to the latest figures released today by the Consumer Electronics Association (CEA). These declines are consistent with post holiday results in previous years.

Consumer confidence in the overall economy decreased in January to 168 points. The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, fell 3 points from December and is down 9.3 points, year-over-year.

"Overall economic sentiment decreased slightly in January after the spike from the holiday season," said Shawn DuBravac, CEA's chief economist and senior director of research. "Consumers are taking a wait-and-see approach to the New Year."

The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, fell 14.3 points in January to 83.0. The ICTE is down 5.0 points from this time last year.

"These declines are consistent with seasonality of the post-holiday season," said DuBravac. "As we saw earlier this month at the 2013 International CES, excitement is high for the innovative tech products we will see hit the market later this year."

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Tags: USA