Dip in Consumer Confidence Suggests 'Possible Weakness' as Holiday Selling Draws to Close, Says CTA

Consumer confidence in the overall economy and in technology spending both decreased this month, suggesting “possible weakness” to the finish of the holiday season, said Shawn DuBravac, chief economist, Consumer Technology Association Tuesday. Despite lower unemployment, “solid consumer spending” and lower energy prices, the December dip in consumer confidence toward the overall economy points to a “cautious consumer,” said DuBravac. CTA’s Index of Consumer Technology Expectations, which measures consumer expectations about technology spending, dropped for the month, said DuBravac, citing a possible consumer retrenchment after a “heavy holiday shopping period.” He expects tech spending to pick up as fundamentals improve next year.