Consumer Confidence Declines in January, CEA Says
Consumer confidence in both the overall economy and the technology sector saw declines in the month of January, according to numbers released Monday by the Consumer Electronics Association.
The CEA Index of Consumer Expectations (ICE) dropped 1.7 points from December while the CEA Index of Consumer Technology Expectations (ICTE) plunged 7.1 points. The move was attributed to a typical comedown following the holiday season.
“At the beginning of each year, we see seasonal declines in technology sentiment following the holiday season spike, and 2014 has started with this typical pattern,” CEA economist Shawn DuBravac said as part of the announcement. “However, the consumer electronics market is starting 2014 on stable footing as the underlying economy continues to improve.”