Consumers Spending Less On Tech?
Consumer confidence toward the economy and tech spending slipped in December, says the Consumer Technology Association (formerly the Consumer Electronics Association). Consumer sentiment about the economy fell four points in December despite a stronger labor market, solid consumer spending and lower energy prices. CTA chief economist Shawn DuBravac (above) says it’s evidence of a cautious consumer. “Lower sentiment levels suggest some possible weakness to the end of the holiday season,” he adds.
Consumer expectations about tech spending also dropped four points, making the CTA Index readings the lowest year-over-year for the month of December since 2009. Shawn says the fall in tech spending expectations is likely due to consumers retrenching after a heavy holiday shopping period. He expects tech spending to pick up as fundamentals continue to improve in 2016.