Consumer Confidence Surged in March
Consumer confidence in both the tech sector and the overall economy surged in March, according to numbers released Tuesday by the Consumer Electronics Association.
The CEA Index of Consumer Technology Expectations (ICTE) jumped 6.2 percent, while the CEA Index of Consumer Expectations (ICE) rose 2.5 points.
The Conference Board number, also released Tuesday, jumped to its highest level since January 2008.
“The increase in sentiment toward tech spending is a promising sign and bodes well for strength in the sector in the coming months,”Shawn DuBravac, CEA’s chief economist and senior director of research, said as part of the announcement.
“Although the year started off as a disappointing first quarter for the technology sector, the jump in confidence might point to an ensuing lift driven by some pent up demand.”