SurveysJul 06, 2022
A Recession Is Unlikely, Says NRF EconomistSurveysAug 02, 2022
Consumer Confidence Falls for Third Month in July
Rising prices and interest rate hikes are expected to weigh on consumer spending and economic growth over the next six months.
The Conference Board’s consumer confidence index fell to 95.7 in July from 98.4 in June, marking the third consecutive decline.
New York—U.S. consumer confidence fell for the third consecutive month in July, weighed down by inflation concerns.
The Conference Board’s consumer confidence index fell to 95.7 in July from 98.4 in June.
“As the Fed raises interest rates to rein in inflation, purchasing intentions for cars, homes, and major appliances all pulled back further in July,” said Lynn Franco, senior director of economic indicators at The Conference Board.
The consumer price index, which measures the average change in prices over time consumers will pay for a basket of goods and services, rose 1.3 percent month-over-month in June and 9.1 percent year-over-year, exceeding analyst estimates to mark the fastest pace for inflation since November 1981.
Franco noted the decrease in consumer confidence was driven by a decline in the Present Situation Index, which measures consumers’ outlook on current business and labor market conditions, and signals that growth has slowed at the start of the third quarter.
The Present Situation Index fell to 141.3 in July from 147.2 last month.
The percentage of consumers who said current business conditions are “good” decreased to 17 percent month-over-month from 19.5 percent, while those who said conditions were “bad” also increased, up to 24 percent, compared with 22.8 percent in June.
Consumers also had a bleak view of the labor market, with 50.1 percent of respondents saying jobs are “plentiful,” down from 51.5 percent last month.
More consumers felt jobs were “hard to get,” up to 12.3 percent from 11.6 percent in June.
Related stories will be right here …
The Conference Board’s consumer confidence index fell to 95.7 in July from 98.4 in June.
“As the Fed raises interest rates to rein in inflation, purchasing intentions for cars, homes, and major appliances all pulled back further in July,” said Lynn Franco, senior director of economic indicators at The Conference Board.
The consumer price index, which measures the average change in prices over time consumers will pay for a basket of goods and services, rose 1.3 percent month-over-month in June and 9.1 percent year-over-year, exceeding analyst estimates to mark the fastest pace for inflation since November 1981.
Franco noted the decrease in consumer confidence was driven by a decline in the Present Situation Index, which measures consumers’ outlook on current business and labor market conditions, and signals that growth has slowed at the start of the third quarter.
The Present Situation Index fell to 141.3 in July from 147.2 last month.
The percentage of consumers who said current business conditions are “good” decreased to 17 percent month-over-month from 19.5 percent, while those who said conditions were “bad” also increased, up to 24 percent, compared with 22.8 percent in June.
Consumers also had a bleak view of the labor market, with 50.1 percent of respondents saying jobs are “plentiful,” down from 51.5 percent last month.
More consumers felt jobs were “hard to get,” up to 12.3 percent from 11.6 percent in June.
The Expectations Index, which measures consumers’ short-term outlook for income, business, and labor market conditions, fell to 65.3 from 65.8.
“The Expectations Index held relatively steady, but remained well below a reading of 80, suggesting recession risks persist. Concerns about inflation—rising gas and food prices, in particular—continued to weigh on consumers,” Franco said.
As for the business outlook, fewer respondents expect business conditions to improve, down to 14 percent from 14.6 percent in June.
However, fewer expect conditions to worsen, down to 27.2 percent from 29.7 percent last month.
Consumers’ view of the short-term labor market was also mixed, with only slightly fewer respondents expecting more jobs to be available, down to 15.7 percent from 15.9 percent.
But, fewer respondents also expect there to be fewer jobs, down to 21.4 percent from 22.2 percent.
Consumers were less optimistic about short-term financial prospects, with 14.7 percent expecting incomes to increase, down from 16.1 percent last month.
More respondents expect their incomes to decrease, up to 15.7 percent from 15.3 in June.
Franco shared her prediction for the months ahead.
“Looking ahead, inflation and additional rate hikes are likely to continue posing strong headwinds for consumer spending and economic growth over the next six months.”
More on Surveys
The Latest
WatchesMar 26, 2026
Q&A: Citizen Watch America President Jeffrey Cohen on Eco-Drive’s 50th AnniversaryCohen discusses the evolution of Citizen’s light-powered technology, the brand’s cross-generational appeal, and tariffs.
IndependentsMar 26, 2026
Peter Smith Pens Book on Human Behavior in Sales“Essentially Human: On Sales and Salespeople" reveals the underlying human traits and behaviors of the most successful sales professionals.
CollectionsMar 26, 2026
Lionheart Celebrates 13 Years of ‘Cassandane’The collection features symbols of love, luck, and light, based on the story of Queen Cassandane and Cyrus the Great of Persia.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
Events & AwardsMar 26, 2026
NAJA, Instappraise Introduce New ScholarshipIt’s the third scholarship to be launched as part of the partnership to help appraisers advance their professional credentials.
Weekly QuizMar 26, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMar 26, 2026
JA Still Accepting Entries for 2026 CASE AwardsThe deadline for entries in the jewelry design competition has been extended to April 3.
SourcingMar 25, 2026
Rob Bates Steps Down as JCK News Director After 28 years with JCK, the veteran industry journalist is launching his own publication on Substack called The Jewelry Wire.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
GradingMar 25, 2026
New York’s Natural History Museum, Wiley To Build Minerals DatabaseWiley said the project will give scientists worldwide access to the American Museum of Natural’s History renowned mineral collection.
CollectionsMar 25, 2026
Boochier Turns Flower Friendship Bracelets Into Fine JewelryThe “Flower Puff” collection looks to beaded flower friendship bracelets from childhood, turning the silhouette into nostalgic fine jewelry.
Policies & IssuesMar 25, 2026
Community for Ethical Jewelry to Host Bench Jeweler Shortage WebinarSet for April 2, the webinar will discuss how the jewelry industry can address the workforce gap.
IndependentsMar 24, 2026
Lisa Bayer, Illustrator and Beloved Member of the Muse Family, Dies at 64Bayer, founder of Lisa Bayer Designs, is remembered as “a bright light in every room.”
AuctionsMar 24, 2026
White Diamonds Shine In Christie's Jewels Online SaleThe highest-grossing lot was a Tiffany & Co. ring set with a flawless, emerald-cut diamond of 10 carats.
SourcingMar 24, 2026
AGTA Solidifies Tucson Dates For 2027-2029The next three editions of AGTA GemFair Tucson will feature a five-day show that includes Sunday.
WatchesMar 24, 2026
Christie’s Names New Senior Specialist, WatchesFormer Sotheby’s executive Tom Heap has taken on the London-based role.
CrimeMar 23, 2026
NYPD Looking for 3 Jewelry Store Robbery SuspectsThe group of women allegedly robbed two Catbird stores and one Gorjana location on the afternoon of March 9.
FinancialsMar 23, 2026
Movado’s Q4 Sales Rise As Demand Grows From Younger Shoppers, WomenMovado CEO Efraim Grinberg noted continued strength in the fashion watch and accessible luxury segments in the U.S.
TrendsMar 23, 2026
Marco Bicego’s New Campaign Showcases ‘The Art of Craft’After celebrating 25 years in 2025, the campaign marks a new chapter for the jewelry brand with the message that “Identity Creates Value.”
Events & AwardsMar 23, 2026
These Watch Brands Are Heading to Couture This YearCouture and Time to Watches announced the watch brands, from big names to independents, attendees will see at the show.
FinancialsMar 20, 2026
Macy’s Turnaround Plans Shows Promise, Boosted by Bloomingdale’sPlus, why Saks Global’s bankruptcy may have given Bloomingdale’s an edge.
AuctionsMar 20, 2026
Sotheby's, De Beers Unveil ‘Jwaneng 28.88’ DiamondThe flawless, Type IIa stone is estimated to achieve up to $2.8 million at the auction house’s high jewelry sale in April.
TrendsMar 20, 2026
‘Frankenstein’ Costume Designer Is Bejeweled In Brooches for Oscars WinCostume designer Kate Hawley wore three archival Tiffany & Co. brooches, our Pieces of the Week, while accepting her first Oscar.
FinancialsMar 19, 2026
Signet Jewelers to Close 100 Stores, Shutter James Allen BannerThe jewelry retailer announced changes to its store network and brand portfolio during its fourth-quarter earnings call.
AuctionsMar 19, 2026
26-Carat Diamond Tops $1M at AuctionThe historic stone, which sold at Elmwood’s in London, is the largest white diamond to be offered on the U.K. market in more than a decade.
Events & AwardsMar 19, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach in Las Vegas on May 31.
AuctionsMar 18, 2026
Collection of the ‘Severely Beautiful’ Lady Wardington Fetches $161KThe model and fashion editor’s gold evening bags were the top lots at the London sale, going for more than $25,000 each.
PodcastsMar 18, 2026
Episode 3: An Interview With Jewelry Designer Johnny NelsonFresh off winning the David Yurman Gem Awards Grant, Nelson discusses the ring that launched his career and his plans for the future.
