Surveys

Inflation Not Taking Huge Toll on Consumer Confidence, Yet

SurveysApr 28, 2022

Inflation Not Taking Huge Toll on Consumer Confidence, Yet

The Consumer Confidence Index dipped in April, but U.S. consumers remain “cautiously optimistic” overall, The Conference Board said.

Consumer confidence slipped in April but shoppers still seem intent on making big-ticket purchases, like cars and appliances, in the coming months, The Conference Board said this week.
New York—Consumer confidence remains relatively high despite inflation and the ongoing war in Ukraine, The Conference Board said. 
 
The Conference Board released its monthly Consumer Confidence Index on Tuesday, which is designed to be a barometer of health of U.S. economy from the consumers’ viewpoint.
 
The Consumer Confidence Index fell in April, but only slightly. It now stands at 107.3, down from 107.6 in March. (The baseline for the index is 100, so anything above 100 is indicative of a more optimistic consumer and an expanding economy.) 
 
The Present Situation Index, which measures consumers’ current assessment of business and labor market conditions, also fell—declining to 152.6 from 153.8 last month—but remains high. 
 
This is an indication the U.S. economy continued to grow in Q2, Lynn Franco, senior director of economic indicators at The Conference Board, said in a press release on the results.
 
The Expectations Index, which measures consumers’ short-term outlook on income, business and labor market conditions, remains “weak,” Franco said, but rose to 77.2 in April despite high prices—especially for gas—and the ongoing war in Ukraine. 
 
Consumers’ intentions around spending money on vacations “cooled,” while plans to purchase big-ticket items, like automobiles and appliances, increased. However, interest in purchasing big-ticket items is not as strong as it was in January because of rising interest rates, Franco told National Jeweler in an interview. 
 
There also is expected to be some softening in consumer spending because of inflation, particularly among less affluent consumers, who will see more of their budgets going toward necessities like gas and groceries. 
 
“It’s sort of the tale of two consumers,” Franco said, “The less affluent are more likely to be impacted as opposed to the more affluent.”
 
Also expected to factor in is what Franco described as “the wildcard”—the geopolitical situation, which includes the war in Ukraine as well as resurgence of COVID-19 in China and any resulting supply chain disruptions. 
 
 Related stories will be right here … 
 
Looking more closely at the Present Situation Index shows that consumers had a mixed view of April business conditions.
 
More consumers said business conditions were “good” (21 percent, up from 20 percent), but more also said conditions were “bad” (22 percent, up from 21 percent)—again, a “tale of two consumers.” 
 
Their view of the labor market deteriorated, with fewer consumers describing jobs as “plentiful” (55 percent vs. 57 percent) and 11 percent of consumers saying jobs were hard to get, up from 10 percent in March.
The Expectations Index, which gauges consumers’ outlooks for the next six months, showed a similarly mixed view of business conditions and a more pessimistic view of the labor market but a more upbeat feeling about their financial prospects.
 
In April, 17 percent of consumers surveyed said they expect their incomes to increase in the next six months, up from 15 percent in March. 
 
Fourteen percent said they expect their incomes to decrease, unchanged from March.
 
The Conference Board publishes The Consumer Confidence Index on the last Tuesday of every month. 

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

AuctionsSep 27, 2022
In Betty White’s Blockbuster Estate Sale, Jewelry Held Its Own

Fine jewelry comprised three of the auction’s top 10 lots, though it could not top her director’s chair or scripts from “The Golden Girls.”

CrimeSep 27, 2022
3 Suspects in Beverly Hills Smash-and-Grab Robbery Arrested

A total of four suspects are now in custody with police still on the lookout for the remaining two.

ColumnistsSep 27, 2022
Creative Connecting: Fun Ideas for Holiday 2022 In-Store Events

From a “whodunnit” murder mystery to a permanent jewelry party, Duvall O’Steen and Jen Cullen Williams share a wealth of suggestions.

Brought to you by
6 Steps to Start a Dynamic Company Culture

Learn how to better serve your employees, customers and community by having a dynamic and supportive company culture.

MajorsSep 27, 2022
Stuller Releases 2 Updated Catalogs Ahead of the Holiday Season

“Mountings 2023-2024” and “Diamonds & Gemstones 2023-2024” offer a vast selection of options to create custom pieces.

Weekly QuizSep 22, 2022
This Week’s Quiz
Test your knowledge of the latest jewelry news with this quick test.
Take the Quiz
Events & AwardsSep 27, 2022
ICA’s 2023 Congress Will Be Held in Dubai

The event will be hosted by the Dubai Multi Commodities Centre from Feb. 15-17.

IndependentsSep 26, 2022
Roberson’s Fine Jewelry to Close After 42 Years

The store’s liquidation sale will showcase the mix of classic and unique jewels it’s known for stocking.

Brought to you by
Committing to an Ethical Diamond Business

While ethical mining is essential to a diamond business, they represent only a fraction of the responsibility bestowed on jewelers.

CollectionsSep 26, 2022
Go ‘Inside the Dream’ of Bulgari Via a New Documentary on Amazon Prime

It follows Creative Director Lucia Silvestri as she crafts the brand’s high jewelry collections.

Recorded WebinarsSep 26, 2022
Watch: What Jewelers Should Know About Insurance

From safeguarding showcases to appraisal liability, insurance experts Mark Devereaux and Andrew Chipman share insurance tips for jewelers.

TrendsSep 26, 2022
Vahan Collabs With Wolf on a Jewelry Box

It’s the first time in 50 years the brand has made something other than jewelry.

Events & AwardsSep 26, 2022
Texas Jewelers Association Rolls Out New Format for Design Competition

The competition takes place in tandem with TJA’s annual convention, known as the Texas Jewelers Roundup.

CollectionsSep 23, 2022
Pandora Reimagines Keith Haring’s Art in New Collection

The limited-run collection features figures from Haring’s iconic street art on charms, bracelets, rings, and more.

GradingSep 23, 2022
GIA Career Fair Returns to Carlsbad

The Gemological Institute of America also announced plans for events in New York and London in 2023.

SourcingSep 23, 2022
See the Items in Gem Legacy’s 4th Anniversary Benefit Auction

One hundred percent of proceeds will benefit the nonprofit’s silicosis prevention initiative.

CollectionsSep 23, 2022
Piece of the Week: Emily Weld Collins’ Amulet

Inspired by antique coins, it depicts a “hippocamp” from Greek mythology.

EditorsSep 22, 2022
4 Things Seen and Heard at the 2022 HardRock Summit

Gemstones Editor Brecken Branstrator dishes on the latest color to trend, the show floor buzz, and more from Denver.

TrendsSep 22, 2022
There’s a New Book on Tiffany & Co.

Written by historian Vivienne Becker, it accompanies this summer’s Tiffany jewelry exhibition at London’s Saatchi Gallery.

Supplier BulletinSep 22, 2022
Using Commerce Data to Outshine the Competition in the Jewelry Industry

Sponsored by Bloomreach

SourcingSep 22, 2022
First Diamond Recovered From Burgundy’s Ellendale Restart

Burgundy also announced the retail launch of its diamond brand, Maison Mazerea.

Events & AwardsSep 22, 2022
JCK Industry Fund Now Accepting Applications

Organizations with a project or initiative aimed at bettering the jewelry industry are encouraged to apply.

Lab-GrownSep 21, 2022
An Updated Look at the Lab-Grown Diamond Market: Size, Pricing, and More

As the end of 2022 draws near, National Jeweler offers another deep dive into lab-grown diamond market data.

TrendsSep 21, 2022
These Are the Diamond Jewels to Stock for the Holidays

These trending-yet-timeless pieces are no-brainers for customers in search of the perfect gift.

SourcingSep 21, 2022
A Day in the Life: Daniel Namdar, Fancy Color Diamond Specialist

Namdar joins a long line of diamond experts, but his love of the trade was learned rather than inherited.

Lab-GrownSep 21, 2022
Looking Ahead: 4 Factors That Could Shape Lab-Grown Diamonds’ Future

Growing supply and falling prices likely will make differentiation a necessity and a reality, according to analyst Paul Zimnisky.

AuctionsSep 21, 2022
Egyptomania at Sotheby’s: See the Egyptian Revival Jewels Heading to Auction

The auction house is celebrating 100 years since the discovery of King Tut’s tomb.

MajorsSep 21, 2022
Claire’s Expands Walmart Partnership

The chain’s jewelry and accessories are now available in 2,500 Walmart locations.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy