Household CE Spending up 9.3% in 2007

NEW YORK Consumers continued to spend money on consumer electronics with average U.S. household spending up 9.3% for the one-year period that ended Jan. 31, according to a study by the Consumer Electronics Association (CEA).

 The 10th Annual Household CE Ownership and Market Potential Study showed the average household spent $1,405 on consumer electronics last year, $120 more than the previous year. The leading categories included high-definition TVs and portable products like laptop computers and cell phones.

“The ability to listen to music, check email and make calls while on the go is what consumers want,” said Chris Ely, the CEA’s senior analyst of market research. 

 The report predicts that overall consumer spending will increase again this year and surpass the $161 billion in overall shipment revenue generated last year.