Consumer Optimism about Economy, Tech Spending Slide in February, Says CTA

ARLINGTON, Va.–(BUSINESS WIRE)–Consumer confidence toward the overall economy and tech spending
decreased over the past month, 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, decreased 3.1 points in
February to 172.1.

“Financial conditions worsened this month across a number of metrics –
the U.S. dollar, stock values and corporate profits,” said Shawn
DuBravac, Ph.D., chief economist, Consumer Technology Association. “GDP
estimates suggest near zero growth in the fourth quarter of 2015, and
growth will remain below trend to start the year. Consumer sentiment is
turning despite a strong foundation for consumer spending coming from
employment gains, wage growth and solid consumer wealth.”

Technology Spending

The CTA Index of Consumer Technology Expectations (ICTE), which measures
consumer expectations about technology spending, decreased 3.0 points to
84.9 in February.

“We see a definite loss of economic momentum around the world, but
consumer fundamentals are still relatively strong,” said DuBravac.
“Globally, we’re tracking continued weakness in Europe, China and other
international markets. But U.S. consumers remain more resolute –
continuing to carry the country’s economy and, more broadly, the global
economy.”

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)TM, 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 technology. Profits from CES are reinvested into CTA’s industry
services.

UPCOMING EVENTS

  • Winter Break
    March 21-24, Park City, UT
  • Technology & Standards Spring Forum
    April 4-8, San
    Diego, CA
  • CES on the Hill
    April 19, Washington, DC
  • Digital Patriots Dinner
    April 20, Washington, DC
  • CES Asia 2016
    May 11-13, Shanghai, China
  • CEO Summit
    June 21-24, Tel Aviv, Israel
  • Innovate!
    September 20-22, San Jose, CA
  • CES 2017
    January 5-8, Las Vegas, NV

Contacts

Consumer Technology Association (CTA)
Lexie De Los
Santos, 703-907-7426

asantos@CE.org
www.CTA.tech
or
Elliot
Grimm,
703-907-5240
egrimm@CE.org