Consumer confidence toward technology spending increased slightly, while sentiment toward the overall economy saw a marginal decrease according to the latest figures released by the Consumer Electronics Association (CEA).
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, increased by 0.5 points in May to reach 88.2.
“After a difficult first quarter, May’s sentiment suggests consumer appetite for tech is slowly improving,” said Shawn DuBravac, CEA’s chief economist and senior director of research. “Generally, sentiment on tech spending continues to fall in line with consumer attitudes toward the overall economy this year.”
The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, decreased by 0.8 points from last month to 166.7 in May.
“Consumer sentiment about the overall economy changed marginally in May, as the economy continues to regain momentum after negative effects from a bitter winter,” said DuBravac.
The CEA Indexes comprise the ICE and ICTE, both of which are updated on a monthly basis through consumer surveys.