FinancialsNov 17, 2021
October Retail Sales Beat Expectations Despite Rising PricesSurveysDec 01, 2021
Consumer Confidence Falls in November Amid Inflation
Despite a dip in confidence and a rise in prices, consumers continue to spend.
The Conference Board’s consumer confidence index fell to 109.5 in November from 111.6 in October.
New York—U.S. consumer confidence fell in November as inflation pushed prices higher.
The Conference Board’s consumer confidence index fell to 109.5 in November from 111.6 in October, falling short of analyst estimates of 110.
It marked the fourth decline in the past five months, and its lowest level in nine months.
The consumer price index, which measures the average change in prices over time consumers will pay for a basket of goods and services, rose nearly 1 percent month-over-month in October and more than 6 percent year-over-year, marking the highest jump since 1991.
But, despite rising costs due to inflation and low consumer sentiment, consumers have continued to spend, with retail sales in October surpassing analyst expectations.
“Expectations about short-term growth prospects ticked up, but job and income prospects ticked down. Concerns about rising prices—and, to a lesser degree, the Delta variant—were the primary drivers of the slight decline in confidence,” said Lynn Franco, senior director of economic indicators at The Conference Board, in a press release announcing the results.
The Conference Board’s consumer confidence index fell to 109.5 in November from 111.6 in October, falling short of analyst estimates of 110.
It marked the fourth decline in the past five months, and its lowest level in nine months.
The consumer price index, which measures the average change in prices over time consumers will pay for a basket of goods and services, rose nearly 1 percent month-over-month in October and more than 6 percent year-over-year, marking the highest jump since 1991.
But, despite rising costs due to inflation and low consumer sentiment, consumers have continued to spend, with retail sales in October surpassing analyst expectations.
“Expectations about short-term growth prospects ticked up, but job and income prospects ticked down. Concerns about rising prices—and, to a lesser degree, the Delta variant—were the primary drivers of the slight decline in confidence,” said Lynn Franco, senior director of economic indicators at The Conference Board, in a press release announcing the results.
Consumers were less than optimistic about their current financial prospects.
The Present Situation Index, which measures consumers’ outlook on current business and labor market conditions, fell to 142.5 from 145.5 last month.
Consumers’ appraisal of current business conditions was less favorable in November.
The percent of consumers who said current business conditions are “good,” decreased to 17 percent month-over-month from 18.3 percent. Those who said conditions were “bad” increased to 29 percent, compared with 25.7 percent in October.
As for the labor market, consumers had mixed feelings, with 17 percent of respondents saying jobs are “plentiful,” compared with 18.3 percent last month.
However, 11.1 percent said jobs are “hard to get,” nearly unchanged from 11 percent in October.
The Expectations Index, which measures consumers’ short-term outlook for income, business, and labor market conditions, fell to 87.6 from 89 last month.
Consumer optimism was somewhat buoyed when looking to the short term, with the percentage of consumers expecting short-term business conditions to improve over the next six months increasing to 24.1 percent from 22.7 percent.
Consumers’ optimism about short-term business conditions also increased in November; fewer expect business conditions to worsen, down to 20.7 percent from 21.9 percent last month.
Looking at the short-term labor market, 22.1 percent consumers expect to see more jobs in the months ahead, down from 24.4 percent.
The percentage of consumers expecting to see fewer jobs increased to 18.9 percent, compared with 18.7 percent last month.
The percentage of consumers expecting an increase in short-term income decreased to 17.9 percent from 18.4 percent. More consumers expect their incomes to decrease—12 percent said they expect a decline, which is up from 11.2 percent.
“The Conference Board expects this to be a good holiday season for retailers and confidence levels suggest the economic expansion will continue into early 2022,” Franco said.
She noted both confidence and spending will likely have to battle rising prices and a possible rise in COVID-19 cases in the coming months.
More on Surveys
The Latest
FinancialsSep 09, 2026
Signet Jewelers to ‘Double Down’ on Blue Nile Amid Strong SalesThe jewelry retailer said it sees opportunity at higher price points, particularly in natural diamonds for bridal and fashion.
IndependentsSep 09, 2026
Sarah Leonard Fine Jewelers Closes After Nearly 80 YearsThe Los Angeles-based, family-owned jeweler was founded by Lenny and Sunny Friedman in 1946.
SourcingSep 09, 2026
Fura Gems Notes ‘Remarkable’ Interest in Larger Rubies at Latest SaleThe auction, held in Bangkok, was 96 percent sold by lot, with nearly 411,000 carats of Mozambiquan rubies sold.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
MajorsSep 09, 2026
Stuller’s Latest Catalog Includes Its New Demi-Fine CollectionFine Jewelry 2027-2028 has more than 900 new styles, including silver, gold-filled, gold-plated sterling silver, and vermeil jewelry.
Weekly QuizSep 03, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Policies & IssuesSep 09, 2026
8 Key Changes the FTC Made to the Jewelry Guides: A Refresher Learn more about the new terms for lab-grown diamonds and composite gemstones, and the major changes in store for precious metals jewelry.
IndependentsSep 08, 2026
Ricky Bromberg, Longtime President of Bromberg & Co., Dies at 67 Bromberg is remembered as a Southern gentleman who always wore a suit and tie and treated others with kindness.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
TrendsSep 08, 2026
Amanda’s Style File: A Hot Take on September’s Birthstone With high durability and a wide range of colors to choose from, sapphires may be the ultimate birthstone, Gizzi claims.
ColumnistsSep 08, 2026
Peter Smith: Humor Is No Laughing MatterLaughter is often considered a distraction in the workplace, but it has benefits for both staff and management, Peter Smith writes.
MajorsSep 08, 2026
Former Tiffany & Co. Exec Joins Exemplar Luxury GroupGretchen Koback Pursel is the new chief people officer at the company formerly known as Saks Global.
IndependentsSep 04, 2026
Orloff Jewelers Will Soon Unveil a Bigger, Better LocationThe California jeweler is renovating its store in Fresno, with plans to show off the new space in December.
CollectionsSep 04, 2026
Chelsea Gabrielle Transforms Pilates Reformer Springs Into Ring A lifelong practitioner of Pilates, Gabrielle looked to the springs’ tension and suspension when creating this ring, our Piece of the Week.
Events & AwardsSep 04, 2026
JCK Industry Fund Accepting 2027 ApplicationsThe deadline to apply is Nov. 13.
AuctionsSep 04, 2026
Christie's Names New Global Head of WatchesThe auction house has promoted Remi Guillemin, formerly its head of watches for the Americas and EMEA, to the role.
EditorsSep 03, 2026
Q&A: Simon G.’s CEO on Why He Won’t Use AI for Jewelry DesignZaven Ghanimian discussed the value of human craftsmanship and where the implementation of artificial intelligence does work.
Events & AwardsSep 03, 2026
Here Are the First Recipients of Nina Pugliese Memorial Scholarship Jewelers of America also revealed the recipients of the Seymour & Evelyn Holtzman Bench Scholarship and its own scholarship programs.
WatchesSep 03, 2026
Robert Pattinson Joins Jaeger-LeCoultre as Brand AmbassadorThe British actor, known for his roles in “Twilight” and “The Odyssey,” will star in a campaign for the Master Control Chronometre.
CollectionsSep 03, 2026
Sydney Evan Celebrates 25 Years With 4 New CollectionsThe “Confetti Disco,” “Champagne Cheers,” “Tuxedo,” and “Classic Punk” jewelry collections each capture a distinct spirit of celebration.
CrimeSep 02, 2026
CA Jeweler Gets 5 Years in ‘Phantom Rolex’ Ponzi SchemeNelson Holdo of Newport Beach pleaded guilty to multiple counts of felony grand theft and writing bad checks and was sentenced Monday.
AuctionsSep 02, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s “significant” collection of cat jewelry and other objects is going up for auction.
MajorsSep 02, 2026
Messika Names Former Omega Exec as New President, CEO of AmericasArnaud Michon, the former Omega USA President, will now lead Messika’s Americas region during its international development.
Events & AwardsSep 02, 2026
Emerald’s New Owner Introduces ‘Glitter in the Grove’The branding references the back-to-back jewelry shows that new parent company Forge will host in Miami's Coconut Grove this November.
AuctionsSep 01, 2026
UK Woman Uncovers Rare Patek Philippe Watch in Mom’s Jewelry BoxThe stainless steel Patek Philippe “Calatrava” watch from the 1930s sold for nearly $80,000 at a recent Hansons Cornwall auction.
ColumnistsSep 01, 2026
Your Jewelry Marketing Has a Bridal ProblemEngagement rings are important but don’t ignore the customers who are buying jewelry “just because,” Emmanuel Raheb writes.
MajorsSep 01, 2026
Kering Names New Pomellato, DoDo CEOsFormer Pomellato CEO Sabina Belli has been named president of Kering Italia amid a shakeup of Kering's new Jewelry division.
MajorsSep 01, 2026
Anne Marie Shulman Joins GPA GlobalThe veteran luxury packaging executive was appointed to help the company grow its North American business.
