Consumer Optimism on Economy, Tech Jump in March

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Consumer confidence toward the overall economy and tech spending rose in March following a February slide, according to the latest data released today by the Consumer Technology Association (CTA) – formerly the Consumer Electronics Association (CEA).

Overall Economy

The CTA Index of Consumer Expectations (ICE), which measures consumer sentiment about the U.S. economy as a whole, jumped 6.6 points in March to reach 178.7.

“Consumer confidence toward the overall economy lifted this month, following a downturn in February amid Americans’ worries of an economic slowdown and stock market drop,” said Shawn DuBravac, Ph.D., chief economist, Consumer Technology Association. “Strength remains in consumer spending, as a result of wage growth and employment gains.”

Technology Spending

The CTA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, increased 1.5 points to reach 86.4 in March.

“Following a rebound in sentiment about the economy, optimism toward technology spending saw an increase in March, too,” said DuBravac.

The CTA Indexes are updated on a monthly basis through consumer surveys. New data is released on the fourth Tuesday of each month. Find current and past indexes, charts, methodology and future release dates, on the CTA Indexes page.

About Consumer Technology Association:

Consumer Technology Association (CTA), formerly Consumer Electronics Association (CEA), is the trade association representing the $287 billion U.S. consumer technology industry. More than 2,200 companies – 80 percent are small businesses and startups; others are among the world’s best known brands – enjoy the benefits of CTA membership including policy advocacy, market research, technical education, industry promotion, standards development and the fostering of business and strategic relationships. CTA also owns and produces CES – the world’s gathering place for all who thrive on the business of consumer technologies. Profits from CES are reinvested into CTA’s industry services.