CES: CEA -- Consumer Spending To Decrease In ’09
Technology continues to outperform other industries
By Lisa Johnston -- TWICE -- Broadcasting & Cable, 1/7/2009 11:54:00 AM
CES '09: Complete Coverage from Broadcasting & Cable
Not surprisingly, it’s not looking like 2009 is going to be a banner year for consumer electronics.
That was the message given by Steve Koenig, industry analysis director, Consumer Electronics Association (CEA), and Shawn DuBravac, CEA economist, at the Venetian, here, prior to the start of International CES. However, the pair tempered the gloomy outlook by saying that CE is still faring better than other industries during the current recession.
Although consumers are cutting back on purchases that can be delayed, consumers view CE technology as something that is integral to their lives, they said.
Nevertheless, CEA is projecting consumer spending will decline 0.3 percent in 2009. “We’re projecting 2009 will be a bit worse [in consumer spending] than 2008, DuBravac said.
Click here to read the full story at twice.com.
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