Consumer confidence toward the overall economy and technology spending both decreased in December, according to data released by the Consumer Technology Association (CTA), formerly the Consumer Electronics Association.
The CTA index of consumer expectations, which measures consumer sentiment about the U.S. economy as a whole, decreased 3.9 points in December to 168.7.
“Despite improving fundamentals such as a strengthened labor market, solid consumer spending and lower energy prices, December’s dip in consumer confidence toward the overall economy is evidence of a cautious consumer,” said Shawn DuBravac, chief economist, Consumer Technology Association. “Lower sentiment levels suggest some possible weakness to the end of the holiday season.”
The CTA index of consumer technology expectations, which measures consumer expectations about technology spending, dropped 3.9 points to 88.2 in December. Both index readings are lower year-over-year for the month of December.
“A decrease in the index of consumer technology expectations is likely due to consumers retrenching following a heavy holiday shopping period,” said DuBravac. “Yet, as with consumer confidence toward the overall economy, I expect tech spending to pick up as fundamentals continue to improve in 2016.”
The CTA operates CES (Consumer Electronics Show).