CEA: Confidence Dropped in April
Consumer confidence in both the overall economy and technology dropped in the month of April, the Consumer Electronics Association reported Tuesday.
The CEA Index of Consumer Expectations (ICE) dropped 2.7 points from March, while CEA Index of Consumer Technology Expectations (ICTE) dropped 4.5 points.
“Sentiment slipped again in April as continued uncertainty in Europe and depressed equity market returns likely contributed to lower confidence,” Shawn DuBravac, CEA’s chief economist and senior director of research, said as part of the announcement. “Gas prices also played a major role in sentiment as more than half of respondents said high prices at the pump lowered their confidence in the U.S. economy this month.”
DuBravac added that the tech index dropped largely because fewer prominent products were released in April as opposed to March.