Electronics Group Says Consumer Confidence Highest in Three Years

The Consumer Electronics Association (CEA) reported that its Index of Consumer Expectations rose 4 points in January to 177.3. That’s the highest reading for the index since February 2008.

The index reached an all-time low in November, but has risen steadily since then. CEA’s chief economist noted, “Sentiment has improved by more than 13 percent in the past two months, which is a hopeful sign of consumer expectations for recovery in 2012.”

Consumer confidence in technology dropped 5 points in January, although the three-month average remains near an all-time high. Regarding enthusiasm for new tech products, the group’s economist said, “[E]xcitement remains high for the new and innovative tech products hitting the market this year.”