Consumer Electronics Boost Economy
May 5, 2009
In these dark economic times, hope is a difficult thing to maintain. However, according to PCWorld.com, a recent analysis by economists and IT industry professionals has shown some signs of recovery.
In its most recent quarterly report on the gross domestic product, the U.S. Department of Commerce said that consumer spending has increased by 2.2% in the first quarter of 2009. Compared to the 4.3% that it dropped in the fourth quarter of 2008, this is great news. One of the reasons for the rise: increased sales of consumer electronics.
"If consumer spending is starting to recover, that means you’ve got signs that the economy is starting to recover," said Andrew Bartels, an analyst at Forrester Research Inc.
Increased consumer demand might also inspire increased production, which can further stimulate the economy. Business inventories are shrinking, and at this point, there’s nowhere to go but up.
If you’re involved in the technology sector, what are your predictions? What consumer electronics do you feel will come out on top?