SurveysSep 15, 2022
Deloitte Predicts Muted Growth this Holiday SeasonSurveysSep 28, 2022
Consumer Confidence Rises in September
U.S. consumer confidence rose for the second consecutive month as gas prices fell.
The Conference Board’s consumer confidence index rose to 108 in September from 103.6 in August, marking the second consecutive month of gains.
New York—U.S. consumer confidence rose in September for the second consecutive month as gas prices continue to fall.
The Conference Board’s consumer confidence index rose to 108 in September from 103.6 in August.
“Consumer confidence improved in September for the second consecutive month, supported in particular by jobs, wages, and declining gas prices,” said Lynn Franco, senior director of economic indicators at The Conference Board.
The Present Situation Index, which measures consumers’ outlook on current business and labor market conditions, rose to 149.6 in September from 145.3 last month. It had declined from April through July.
Respondents had a more positive view of current business conditions in September.
The percentage of consumers who said current business conditions are “good” was up to 21 percent from 19 percent last month, while those who said conditions were “bad” decreased, down to 21 percent, compared with 23 percent in August.
Consumers also had a more positive view of the labor market, with 49 percent of respondents saying jobs are “plentiful,” up from 48 percent last month.
The percentage of respondents who felt jobs were “hard to get” was down slightly to 11.4 percent from 11.6 percent in August.
Related stories will be right here …
The Conference Board’s consumer confidence index rose to 108 in September from 103.6 in August.
“Consumer confidence improved in September for the second consecutive month, supported in particular by jobs, wages, and declining gas prices,” said Lynn Franco, senior director of economic indicators at The Conference Board.
The Present Situation Index, which measures consumers’ outlook on current business and labor market conditions, rose to 149.6 in September from 145.3 last month. It had declined from April through July.
Respondents had a more positive view of current business conditions in September.
The percentage of consumers who said current business conditions are “good” was up to 21 percent from 19 percent last month, while those who said conditions were “bad” decreased, down to 21 percent, compared with 23 percent in August.
Consumers also had a more positive view of the labor market, with 49 percent of respondents saying jobs are “plentiful,” up from 48 percent last month.
The percentage of respondents who felt jobs were “hard to get” was down slightly to 11.4 percent from 11.6 percent in August.
The Expectations Index, which measures consumers’ short-term outlook for income, business, and labor market conditions, rose to 80.3 from 75.8.
“The Expectations Index also improved from summer lows, but recession risks nonetheless persist,” said Franco. “Concerns about inflation dissipated further in September—prompted largely by declining prices at the gas pump—and are now at their lowest level since the start of the year.”
Respondents took an optimistic view of the short-term business outlook, with 19 percent expecting business conditions to improve, up from 17 percent in August.
Fewer expected conditions to worsen, down to 21 percent from 22 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 18 percent from 17 percent.
Fewer respondents also expect there to be fewer jobs, down to 18 percent from 20 percent.
Consumers were also more optimistic about short-term financial prospects, with 18 percent expecting incomes to increase, up from 17 percent last month.
However, slightly more respondents expect their incomes to decrease, up to 14.3 percent from 13.9 percent in August.
Purchasing intentions were mixed, said Franco, with plans to buy cars and appliances on the rise while home purchase plans fell, which she attributed to rising mortgage rates and a “cooling” housing market.
“Looking ahead, the improvement in confidence may bode well for consumer spending in the final months of 2022, but inflation and interest-rate hikes remain strong headwinds to growth in the short term,” concluded Franco.
More on Surveys
The Latest
WatchesSep 21, 2023
Timex Wants Your Old WatchThe company just rolled out “Timex Rewound,” a new takeback and resale program.
GradingSep 21, 2023
Retailers Warned About Fraudulent Email Purportedly From GIA The lab confirmed it did not send the message.
AuctionsSep 21, 2023
Hindman Appoints New SVP, Director of Jewelry and WatchesReginald Brack has worked at StockX and Christie’s.
Brought to you by
Top 5 Ways to Promote Safety and Security Awareness Among Your StaffAwareness is essential to proactive protection. Learn how to promote and maintain safety and security awareness in your business.
SourcingSep 21, 2023
Natural Diamond Council’s Latest Campaign With Lily James Is Here The second installment of “To Treasure Now and Forever” is intended to emphasize diamonds’ versatility.
Weekly QuizSep 15, 2023
This Week’s QuizTest your jewelry news knowledge with this short test.
MajorsSep 21, 2023
Artistry’s 2024 Catalog Has ShippedIt features colored gemstone, pearl, diamond, gold, and sterling silver jewelry styles.
SourcingSep 20, 2023
Natural Diamond Outlook: Indian Diamantaires Navigating Multiple Storms Economic slowdowns, geopolitical tensions, and the rising popularity of lab-grown diamonds are clouding the outlook for mined diamonds.
Brought to you by
A Conversation with Dialog SolutionsDo you always want the right diamonds at the right price in your store? Introducing Dialog, the world’s first diamond subscription service.
Lab-GrownSep 20, 2023
Lab-Grown Diamond Outlook: Price Declines Aren’t a Deterrent Some Indian manufacturers think the potential in this young, evolving market outweighs current price concerns.
SourcingSep 20, 2023
New Surat Diamond Bourse To Be World’s Largest Office Complex The massive space spans 7.1 million square feet with more than 4,000 offices and 131 elevators.
Policies & IssuesSep 20, 2023
Creating a Brighter Future for the Differently Abled GIA is among the supporters of a new school building for children with special needs.
MajorsSep 20, 2023
Tiffany Collabs With Fellow LVMH-Owned Rimowa The jeweler and luxury luggage company have teamed up on jewelry cases and a suitcase.
GradingSep 20, 2023
Navneet Gems Introduces Portrait-Cut RubiesThe geometric collection is on view now at the Jewellery & Gem World Hong Kong Show.
AuctionsSep 19, 2023
‘Bleu Royal’ Diamond to Fetch $35M-$50M at Auction The 17.61-carat stone leads Christie’s “Magnificent Jewels” sale in Geneva this November.
CrimeSep 19, 2023
Man Sentenced to 6 Years in Prison Following Bear Spray RobberyThe suspect used bear spray to subdue employees and bystanders then stole $800,000 worth of jewelry.
GradingSep 19, 2023
Fuli Gemstones Unveils New Peridot CutThe ‘Fuli Cut’ is based on an antique cushion.
MajorsSep 19, 2023
Norwegian Man Uncovers Ancient Jewels with Metal DetectorThe jewels, including gold rings and pendants, are said to be from 500 A.D.
Policies & IssuesSep 18, 2023
Grib Diamonds Among Companies Named in Latest Round of SanctionsGrib is the Belgium-based subsidiary of Russian company JSC AGD Diamonds, which also was sanctioned.
SourcingSep 18, 2023
Greenland Ruby Update Confirms Operational Suspension, LayoffsThe company anticipates resuming exploration and mining operations and rehiring staff in 2025.
Events & AwardsSep 18, 2023
New York City Jewelry & Watch Show Announces 2023 Exhibitors The antique and vintage jewelry and watch selling event is scheduled for Oct. 26-29.
AuctionsSep 15, 2023
Men’s Jewelry Takes the Spotlight in Sotheby’s Selling Exhibition Frank Everett curated “For the Boys: A Jewelry Exhibition,” opening in New York City in September.
SourcingSep 15, 2023
‘A Diamond Is Forever’ Is Back Again, Backed by $20M De Beers is putting the emphasis on natural diamonds in Q4 and ending Lightbox’s lab-grown diamond engagement ring test run.
TrendsSep 15, 2023
Piece of the Week: Lindsey Scoggins’ Transformable EarringsThe brand-new style can be worn three ways.
TechnologySep 14, 2023
EBay Is Diving Deeper Into the Pre-Owned Pool The tech company is launching a consignment service for sellers of luxury fashion goods, starting with handbags.
MajorsSep 14, 2023
Kendra Scott Heads to Target With prices starting at $15, the Kendra Scott at Target collection launches next month.
Policies & IssuesSep 14, 2023
The JCK Industry Fund Is Accepting 2024 Grant Applications The fund provides grants to organizations that better the jewelry industry.
MajorsSep 14, 2023
CD Peacock To Offer Jewelry Insurance Through ZillionThe Chicago retailer will now offer in-store customers instant quotes and coverage.
