By Paul Ploumis (ScrapMonster Author)

December 23, 2015 02:18:24 AM

SEATTLE (Scrap Monster): According to latest data released by the Consumer Technology Association (CTA), the consumer confidence towards technology spending has dipped during the month of December. The sentiment with regards to country’s overall economy too has dropped during the month.

The CTA’s Index of Consumer Technology Expectations (ICTE) dropped 3.9 points to 88.2 in December this year. The index reading stood lower when compared with same month the previous year. According to CTA, the lower reading is primarily on account of consumers retrenching following a heavy holiday shopping period. The technical spending is likely to improve during early next year it noted.

Also, the CTA Index of Consumer Expectations (ICE) dropped by 3.9 points to 168.7 in Dec ’15. The dip in consumer confidence toward the overall economy is despite of positive economic indicators such as strengthened labor market, solid consumer spending and lowers energy prices. The lower readings suggest some weakness towards the end of the holiday season, CTA noted.

The CTA Indexes are updated every month based on the findings of surveys conducted by the Association. The CTA, formerly the Consumer Electronics Association (CEA), is the trade association representing the $285 billion U.S. consumer technology industry.