Consumer Optimism on Tech Spending, Overall Economy Fell in March, Says CTA

Consumer optimism toward tech spending and the overall economy took hits in March but remained above their March 2016 levels, CTA said in a Tuesday report. “Despite an aggregate decline around sentiment to buy tech, respondents are showing a higher inclination to spend more on tech in the coming months than they reported last March,” said Chief Economist Shawn DuBravac in a statement. That the stock market “lost some momentum” in recent weeks appears to be the factor that's lowering consumer optimism toward the overall economy, DuBravac said: “While respondents aren’t indicating they expect the economy to be worse off in the near future, a weak equities market coupled with other indicators are likely holding back overt optimism.”