SurveysFeb 29, 2024
Want Insight Into Industry Salaries? Check Out This Careers Guide SurveysMar 27, 2024
Consumer Confidence Held Steady in March
Optimism about the current state of the economy was offset by anxiety around inflation and the political environment.
The Conference Board’s consumer confidence index slid down to 104.7 in March as consumers expressed concerns about inflation and anxiety about the future economy.
New York—U.S. consumer confidence was mostly unchanged in March as optimism about the current economy was offset by anxiety about the future, including the political environment.
The Conference Board’s consumer confidence index slipped to 104.7 in March, down slightly from a downwardly revised 104.8 in February.
Confidence rose among consumers aged 55 and over but fell for those under 55.
Consumers in the $50,000 to $99,999 income range reported lower confidence in March, while confidence improved slightly in all other income groups.
Dana Peterson, chief economist at The Conference Board, noted that over the last six months, “confidence has been moving sideways with no real trend to the upside or downside either by income or age group.”
“Consumers remained concerned with elevated price levels, which predominated write-in responses. March’s write-in responses showed an uptick in concerns about food and gas prices, but in general complaints about gas prices have been trending downward,” said Peterson.
The average 12-month inflation expectations came in at 5.3 percent, relatively unchanged from February’s four-year low of 5.2 percent.
Recessions fears were trending downward, said the Conference Board, both in write-in responses and by its own measure.
The “Consumers’ Perceived Likelihood of a US Recession Over the Next 12 Months” returned to its downward trajectory after a brief uptick last month.
“Meanwhile, consumers expressed more concern about the U.S. political environment compared to prior months,” said Peterson.
The Present Situation Index, which measures consumers’ current view of business and labor market conditions, rose to 151 in March from 147.6 in February.
Consumers’ view of current business conditions was mixed in March, with the percentage of respondents who said current business conditions are “good” mostly flat at 20 percent, while those who said conditions are “bad” decreased to 17 percent from 18 percent.
Consumers’ view of the labor market was more positive in March.
The percentage of respondents who felt jobs were plentiful was flat at 43 percent, while 11 percent said jobs were “hard to get,” down from 13 percent last month.
Related stories will be right here …
The Conference Board’s consumer confidence index slipped to 104.7 in March, down slightly from a downwardly revised 104.8 in February.
Confidence rose among consumers aged 55 and over but fell for those under 55.
Consumers in the $50,000 to $99,999 income range reported lower confidence in March, while confidence improved slightly in all other income groups.
Dana Peterson, chief economist at The Conference Board, noted that over the last six months, “confidence has been moving sideways with no real trend to the upside or downside either by income or age group.”
“Consumers remained concerned with elevated price levels, which predominated write-in responses. March’s write-in responses showed an uptick in concerns about food and gas prices, but in general complaints about gas prices have been trending downward,” said Peterson.
The average 12-month inflation expectations came in at 5.3 percent, relatively unchanged from February’s four-year low of 5.2 percent.
Recessions fears were trending downward, said the Conference Board, both in write-in responses and by its own measure.
The “Consumers’ Perceived Likelihood of a US Recession Over the Next 12 Months” returned to its downward trajectory after a brief uptick last month.
“Meanwhile, consumers expressed more concern about the U.S. political environment compared to prior months,” said Peterson.
The Present Situation Index, which measures consumers’ current view of business and labor market conditions, rose to 151 in March from 147.6 in February.
Consumers’ view of current business conditions was mixed in March, with the percentage of respondents who said current business conditions are “good” mostly flat at 20 percent, while those who said conditions are “bad” decreased to 17 percent from 18 percent.
Consumers’ view of the labor market was more positive in March.
The percentage of respondents who felt jobs were plentiful was flat at 43 percent, while 11 percent said jobs were “hard to get,” down from 13 percent last month.
The Expectations Index, which measures consumers’ outlook for income, business, and labor market conditions in the near future, fell to 73.8 from 76.3 in February.
Notably, an Expectations Index reading below 80 often signals a recession ahead, said the Conference Board.
Expectations for the next six months slipped to the lowest level since October 2023, it said.
Looking at short-term business conditions, respondents’ outlooks were more pessimistic, with 14 percent of respondents expecting business conditions to improve, flat from February, while the number of respondents that expect them to worsen was up to 18 percent from 17 percent.
Consumers’ assessment of the short-term labor market outlook in March was essentially unchanged from February.
The percentage of respondents who expect more jobs to be available was flat at 14 percent, while the number of respondents who expect fewer jobs to be available was also flat at 18 percent.
Consumers’ assessment of their short-term income prospects was also more pessimistic in March.
The number of respondents who expect their incomes to increase was up slightly to 17 percent from 16 percent in February. However, more respondents (14 percent) expect their incomes to decrease, up from 12 percent.
Respondents also were more pessimistic about their family financial situation over the next six months, a measure not included in the Expectations Index.
Consumers had a more positive view of stock prices throughout the year, but concerns about interest rates remained.
The percentage of consumers expecting an increase in interest rates over the year ahead rose above 50 percent for the first time since November 2023, said the Conference Board.
On a six-month basis, plans to buy automobiles, homes, and big-ticket appliances, all purchases that can be subject to interest rates, were down again.
Planned spending for services in 2024 increased relative to the same time last year, it said, noting consumers plan to spend more on healthcare, motor vehicle services, and lodging for personal travel, while spending less on entertainment.
The Conference Board is scheduled to release its results for April on April 30.
Editors' Picks
Sponsored by
More on Surveys
The Latest
CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
MajorsFeb 13, 2026
JFC Announces New BeneficiariesThe nonprofit has welcomed four new grantees for 2026.
Weekly QuizFeb 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsFeb 12, 2026
These 8 Saks Fifth Avenue Stores Are ClosingParent company Saks Global is also closing nearly all Saks Off 5th locations, a Neiman Marcus store, and 14 personal styling suites.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
SourcingFeb 12, 2026
‘Cotton Candy’ Necklace, 35-Carat Kunzite Win 2025 ‘Buyer’s Choice’ AwardsThe AGTA Spectrum and Cutting Edge “Buyer’s Choice” award winners were announced at the Spectrum Awards Gala last week.
Events & AwardsFeb 12, 2026
Kering Opens Entries for 2026 Sustainability-Focused AwardThe “Kering Generation Award x Jewelry” returns for its second year with “Second Chance, First Choice” as its theme.
TrendsFeb 11, 2026
Halle Berry’s Retro Engagement Ring Is a Sapphire-Set StunnerSourced by For Future Reference Vintage, the yellow gold ring has a round center stone surrounded by step-cut sapphires.
MajorsFeb 11, 2026
Francesca’s Files for Chapter 11 Bankruptcy AgainThe clothing and accessories chain announced last month it would be closing all of its stores.
CollectionsFeb 11, 2026
Zales Turns Sweethearts Into Jewelry for Valentine’s Day CollectionThe “Zales x Sweethearts” collection features three mystery heart charms engraved with classic sayings seen on the Valentine’s Day candies.
TechnologyFeb 11, 2026
Gemvision Symposium 2026 Slated for AprilThe event will include panel discussions, hands-on demonstrations of new digital manufacturing tools, and a jewelry design contest.
Events & AwardsFeb 11, 2026
TJS Announces Roundtable, Launches New AppRegistration is now open for The Jewelry Symposium, set to take place in Detroit from May 16-19.
SourcingFeb 10, 2026
At Meeting in South Africa, Support for Natural Diamonds Picks Up Steam Namibia has formally signed the Luanda Accord, while two key industry organizations pledged to join the Natural Diamond Council.
TrendsFeb 10, 2026
Bad Bunny Wears Football-Shaped ‘Desert Diamond’ for Halftime PerformanceLady Gaga, Cardi B, and Karol G also went with diamond jewelry for Bad Bunny’s Super Bowl halftime show honoring Puerto Rico.
FinancialsFeb 10, 2026
Kering Plans Transformation as 2025 Sales Sink 13%As star brand Gucci continues to struggle, the luxury titan plans to announce a new roadmap to return to growth.
SourcingFeb 10, 2026
AGTA To Debut ‘Stuller Color of the Year’ Spectrum Awards CategoryThe new category asks entrants for “exceptional” interpretations of the supplier’s 2026 color of the year, which is “Signature Red.”
Policies & IssuesFeb 09, 2026
U.S., India Trade Deal One Step Closer to Being FinalizedThe White House issued an official statement on the deal, which will eliminate tariffs on loose natural diamonds and gemstones from India.
Events & AwardsFeb 09, 2026
JA Now Accepting Entries for 2026 CASE AwardsEntries for the jewelry design competition will be accepted through March 20.
IndependentsFeb 09, 2026
James Free Jewelers Unveils Revamped FlagshipThe Ohio jeweler’s new layout features a curated collection of brand boutiques to promote storytelling and host in-store events.
TrendsFeb 09, 2026
These 14 Jewels Will Melt Your Heart This Valentine’s DayFrom heart motifs to pink pearls, Valentine’s Day is filled with jewelry imbued with love.
CrimeFeb 06, 2026
Florida Man Sentenced After Selling Fake Native American Jewelry for a Decade Prosecutors say the man attended arts and craft fairs claiming he was a third-generation jeweler who was a member of the Pueblo tribe.
FinancialsFeb 06, 2026
Pandora’s North America GM Departs Amid Executive ChangesNew CEO Berta de Pablos-Barbier shared her priorities for the Danish jewelry company this year as part of its fourth-quarter results.
TrendsFeb 06, 2026
Margot Robbie, Jacob Elordi Wear Matching Cece Jewellery Signet RingsOur Piece of the Week picks are these bespoke rings the “Wuthering Heights” stars have been spotted wearing during the film’s press tour.
MajorsFeb 05, 2026
Pandora to Begin Selling Platinum-Plated JewelryThe introduction of platinum plating will reduce its reliance on silver amid volatile price swings, said Pandora.
