Consumer confidence in economy, technology increase in December

ARLINGTON, USA: Consumer confidence in technology reached a yearly high in December, while confidence in the overall economy also improved this month, according to data release from the Consumer Electronics Association (CEA).

Consumer confidence in technology reached its highest level of the year and second highest level ever this month. The CEA Index of Consumer Technology Expectations (ICTE) reached 93.6, up more than two points from last month. The ICTE, which measures consumer expectations about technology spending, is nearly even with this time last year, when the ICTE reached a record-high of 93.7.

“Technology continues to be the leading category for shoppers during the holiday season and this year was no exception,” said Shawn DuBravac, CEA’s chief economist and director of research. “Looking ahead to 2012, consumer tech remains well positioned compared to all other durable good categories.”

Confidence in the economy also increased this month after reaching an all-time low in November. The CEA Index of Consumer Expectations (ICE) reached 170.7, an increase of more than 14 points. The ICE, which measures consumer expectations about the broader economy, is at its highest point since February but remains down four points from this time last year.

“The holiday season closed out on a strong note with consumers feeling more optimistic about the overall economy than they have in months,” said DuBravac. “While the economic landscape will remain rocky for 2012, December’s numbers show signs of hope as we head into the New Year.”