A consumer electronics industry group predicted Monday that consumers will buy more gadgets in 2008, despite fears of a recession.At the International Consumer Electronics Show in Las Vegas, the Consumer Electronics Association trade group forecast industry revenue would grow 6.1 percent over 2007 to $171 billion — despite rising energy costs, a slumping housing market and the subprime lending meltdown.
The organization also estimated shipments were $161 billion in 2007, up 8.2 percent from the year before.
The CEA noted that although it is projecting 2008 growth lower than in 2007, the prediction is closer to the industry's historic average and higher than what's foreseen in other industries such as housing and vehicles.
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