SurveysAug 29, 2022
Here’s the Latest Government Data on Jewelry SalesSurveysSep 01, 2022
Consumer Confidence Rises in August After 3 Months of Decline
Falling gasoline prices and efforts to fight inflation contributed to climbing consumer confidence.
The Conference Board’s consumer confidence index rose to 103.2 in August from 95.3 in July, marking the first gain in three months.
New York—U.S. consumer confidence rose in August, following three consecutive months of decline.
The rise in confidence follows a drop in gasoline prices and the Federal Reserve’s continued efforts to combat inflation by raising interest rates.
The Conference Board’s consumer confidence index rose to 103.2 in August from 95.3 in July.
The Present Situation Index, which measures consumers’ outlook on current business and labor market conditions, rose to 145.4 in August from 139.7 last month, marking the index’s first gain since March.
Respondents had a more positive view of current business conditions in August.
The percentage of consumers who said current business conditions are “good” was up to 19 percent month-over-month from 16 percent, while those who said conditions were “bad” decreased, down to 23 percent, compared with 24 percent in July.
Consumers had a mixed view of the labor market, with 48 percent of respondents saying jobs are “plentiful,” down from 49 percent last month.
However, fewer consumers felt jobs were “hard to get,” down to 11 percent from 12 percent in July.
The Expectations Index, which measures consumers’ short-term outlook for income, business, and labor market conditions, rose to 75.1 from 65.6.
As for the short-term business outlook, respondents took an optimistic view, with 18 percent expecting business conditions to improve, up from 14 percent in July.
Fewer expected conditions to worsen, down to 22 percent from 26 percent last month.
Consumers’ view of the short-term labor market was also positive, with more respondents expecting more jobs to be available, up to 17 percent from 15 percent.
Fewer respondents also expect there to be fewer jobs, down to 19 percent from 21 percent.
Consumers were also more optimistic about short-term financial prospects, with 16 percent expecting incomes to increase, up from 15 percent last month.
Fewer respondents expect their incomes to decrease, down to 15 percent from 16 percent in July.
While many of the metrics improved in August, the risk of a recession has not abated, noted Lynn Franco, senior director of economic indicators at The Conference Board.
“The Expectations Index improved from July's nine-year low, but remains below a reading of 80, suggesting recession risks continue,” said Franco. “Concerns about inflation continued their retreat but remained elevated.”
More on Surveys
The Latest
ColumnistsJan 31, 2023
Squirrel Spotting: How About a Word for the New Year?It begins with a “t” and ends with a “c” and is imbued with warmth and positivity, Peter Smith writes.
Policies & IssuesJan 31, 2023
Rio Tinto Issues Apology After Radioactive Capsule Goes Missing The tiny capsule, which is believed to have fallen out of a truck, was lost somewhere along an 870-mile stretch of desert road.
MajorsJan 31, 2023
Indian Jewelry Brand Tanishq Opens First U.S. Store, More on the WayThe jeweler’s expansion plans include 20 to 30 more stores in North America and the Middle East over the next two to three years.
Brought to you by
Bringing Over 130 Years of Diamond Expertise to Modern GradingDe Beers Institute of Diamonds provides the very best in diamond verification, education and diamond services.
Events & AwardsJan 31, 2023
Gucci Is Getting a Gem AwardThe Italian luxury brand will receive the first Gem Award for High Jewelry Excellence.
Weekly QuizJan 26, 2023
This Week’s QuizTest your jewelry news knowledge with this short test.
MajorsJan 31, 2023
Martin Flyer Names New VP of Business DevelopmentIndustry veteran Kevin Lane has stepped into the role.
MajorsJan 30, 2023
Researchers Uncover Bejeweled ‘Golden Boy’ MummyThe ancient Egyptian teenager was buried 2,300 years ago with 49 amulets to guide him through the afterlife.
Brought to you by
De Beers Institute of Diamonds Expands to Offer Education De Beers is sharing over 130 years of experience and expertise through the De Beers Institute of Diamonds with a selection of courses.
Events & AwardsJan 30, 2023
JA Is Searching for the Next Retail ’20 Under 40’ Nominations are open now through March 24.
MajorsJan 30, 2023
10 Jewelry News Stories You Might Have MissedA column detailing how independent jewelers did last year and the top watch brands of 2022 were among the most-read stories last week.
FinancialsJan 27, 2023
Tiffany & Co. Shines for LVMH in 2022Acquired in 2021, the brand’s high jewelry sales have doubled and its new “Lock” collection was an instant hit.
MajorsJan 27, 2023
Diamond Council of America Appoints Treasurer, Board MemberExecutives from Fred Meyer Jewelers and Riddles Jewelers have filled the roles.
CollectionsJan 27, 2023
Piece of the Week: Heavenly Vices’ Lock NecklaceThe Victorian-inspired design is a functional lock and key.
Supplier BulletinJan 26, 2023
JA New York Spring Brings the Industry TogetherFor over 100 years, JA New York has played an integral role in facilitating the evolution of our industry, while also honoring past traditions.
TrendsJan 26, 2023
At Vicenzaoro, Paola De Luca Gazes Into Jewelry’s FutureThe trend forecaster and her guests explored unconventional jewelry designs, NFTs, AI art, and more during her Trendvision presentation.
CollectionsJan 26, 2023
NDC and Lorraine Schwartz Announce New ‘EDDI’ ClassThe Emerging Designers Diamond Initiative provides diamond credit and mentorship to young brands helmed by BIPOC designers.
IndependentsJan 26, 2023
Lee Michaels Fine Jewelry Set to Open 10th StoreIt will be located in San Antonio’s Alamo Quarry Market and will be Lee Michaels’ third location in the city.
Policies & IssuesJan 26, 2023
Diamonds Do Good Names 10 to Board of DirectorsStephanie Gottlieb, Jewelers Mutual’s Mike Alexander, and Craig Rottenberg of Long’s Jewelers are among the new board members.
WatchesJan 25, 2023
These Were 2022’s Top-Selling Watch Brands, Chrono24 SaysRolex remained No. 1 while a brand known for its pilot watches slipped into the No. 5 spot.
MajorsJan 25, 2023
John Hardy Names New CEOLuxury retail executive Frédéric Levy has taken on the role.
Events & AwardsJan 25, 2023
Couture DAC Accepting Applications for Mentorship ProgramJewelry designers have until early February to apply to take part in Couture's Diversity Action Council program.
CollectionsJan 25, 2023
Stephanie Gottlieb Announces First President, CCO HireMorgan P. Richardson joins from La Perla.
Policies & IssuesJan 25, 2023
PGI’s New Portal Wants to Teach You About PlatinumThe new portal will share information on responsible platinum sourcing and how it’s used beyond jewelry.
SourcingJan 24, 2023
Tiffany Buys 35 of the Last Diamonds Recovered From Argyle Purchased directly from Rio Tinto, the collection consists of pinks, purples and one red, none larger than 1.52 carats.
ColumnistsJan 24, 2023
On Data: Here’s How Independent Jewelers Did in 2022 Sherry Smith breaks down retailers’ performance last year, including how natural diamonds fared vs. lab-grown.
GradingJan 24, 2023
GIA Launches AGS Diamond Light Performance Supplement ReportThe AGS Ideal Report by GIA is a digital-only addition to GIA diamond reports.
MajorsJan 24, 2023
WJA Announces New International Board MembersThe seven newcomers include executives from David Yurman, De Beers, and GIA.
