CEA: Confidence Improved in June
Despite less-than-positive economic data in June, consumer confidence improved in both the tech sector and the overall economy, according to the Consumer Electronics Association’s monthly index.
The CEA Index of Consumer Technology Expectations (ICTE) rose by two points, gaining for the second straight month. Meanwhile, the CEA Index of Consumer Expectations (ICE) rose 2.6 points.
“Despite continued global upheaval, gas prices are declining, which is likely relieving some pressure on consumer spending, which in turn is allowing consumers to feel like they can allocate more money to technology,” Shawn DuBravac, CEA’s chief economist and senior director of research, said as part of the announcement.
Retail sales declined overall last month, according to government figures, although the electronics and appliance category was a bright spot.