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Survey: 1/5 of U.S. Will Spend Stimulus Funds on Electronics
Written by Philip Buonpastore
Friday, 14 March 2008
ARLINGTON, VA – According to a recent survey by the Consumer Electronics Association (CEA),
one out of five U.S. households will spend at least a portion of their
economic stimulus rebate check on consumer electronics, totaling some
$5 billion in sales.
“Despite clear uncertainties in the macroeconomic environment, this new
research coupled with shipment data for key categories like flat-panel
TVs…suggests [that] technology remains essential to consumers. In fact,
shipments for flat-panel TVs are up 30 percent in the first two months
of the year, a phenomenal amount,” said CEA Economist Shawn DuBravac.
The survey reports that of the total percentage of those indicating
that they would spend a portion of their rebate on consumer
electronics, 53% said they would buy a computer,
39% will use the money for a new television, and 23% will purchase a
new cell phone.
President Bush signed the $168 billion Economic Stimulus Act of 2008 on
February 13. Depending on income levels, individuals will receive a
$600 rebate check, $1,200 for married couples, with $300 per additional
child. The Treasury Department is expected to mail out rebate checks
between May and August of 2008.
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