CEA Tech, Overall Consumer Expectation Indexes Post February Record Highs
CEA’s index of consumer expectations, which measures consumer outlook about the U.S. economy as a whole, increased 3.3 points from January to reach 181.2, the association said Tuesday. This month’s index also is 13.6 points higher than that of February…
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2014, reaching its highest February level since CEA launched the index eight years ago, it said. “U.S. economic growth is poised to sustain a run of above-trend growth over the next few quarters,” said Shawn DuBravac, CEA chief economist. “Desirable financial conditions continue to develop with improved household net worth, strengthening income and consumer spending growth. Employment gains are also adding to the jump in consumer confidence.” CEA’s separate index of consumer technology expectations, which measures consumer intentions on tech spending, jumped 6 points in February from January to reach 94.9, CEA said. This month’s index is 10.7 points higher than in February 2014, also setting a record high for the month, it said. “While consumer sentiment is prone to seasonal variation during this time of the year, the February 2015 levels are extremely strong,” DuBravac said. Ultra HD TVs are among the “key tech categories” that continue to show “better-than-expected strength,” he said.