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.
The Latest
FinancialsMay 30, 2025
Movado’s Q1 Sales Slip Amid ‘Challenging’ Retail Environment The company plans to raise the prices of select watches to offset the impact of tariffs.
Policies & IssuesMay 30, 2025
Tariffs & Designers: Navigating Pricing in an Unstable EnvironmentBetween tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.
CollectionsMay 30, 2025
Piece of the Week: Renato Cipullo’s ‘Hematite Blaze’ NecklaceDesigned by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.
Brought to you by
Clienteling Isn’t a Buzzword. It’s an Essential Business Model.More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.
Policies & IssuesMay 30, 2025
Trade Court Declares Trump’s Tariffs InvalidHowever, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.
Weekly QuizMay 30, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsMay 29, 2025
Britney Spears Files Trademark for New Jewelry LineThe pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.
Supplier BulletinMay 29, 2025
Inoveo Platinum Grain, Exclusively Distributed by StullerSponsored by Stuller
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
SourcingMay 29, 2025
Grizzly Auctions 6,620-Carat EmeraldIt was featured in the miner’s latest sale, which brought in $24.8 million.
TechnologyMay 29, 2025
GemFind Launches AI Product Description SoftwareGemText AI uses artificial intelligence to generate tailored product titles, descriptions, and tags with jewelry-specific language.
MajorsMay 28, 2025
Graff Unveils New Las Vegas FlagshipThe 3,300-square foot location is the jeweler's largest store in North America.
CrimeMay 28, 2025
8 Convicted in Kim Kardashian Jewelry Heist TrialAging and with myriad health issues, none will serve time for their roles in robbing the billionaire celebrity at gunpoint in 2016.
CollectionsMay 28, 2025
NY Liberty’s 2024 Championship Rings Honor Historic WinThe WNBA team received rings imbued with meaning, from leaf motifs and its Liberty torch to the number of diamonds used.
MajorsMay 28, 2025
Andrew Rickard Named JBT PresidentA longtime executive at RDI Diamonds, Rickard has served on the JBT board for the past five years.
MajorsMay 27, 2025
MJSA to Become Part of Jewelers of America The two organizations have signed an affiliation agreement that’s expected to be finalized in the coming weeks.
AuctionsMay 27, 2025
Al Capone’s Patek Philippe Pocket Watch Back Up for AuctionThe platinum and diamond watch is part of Sotheby’s upcoming Important Watches sale.
AuctionsMay 27, 2025
182-Carat Paraíba-Type Tourmaline Sells for $487K Recovered in Mozambique, “The Kat Florence Lumina” was part of Bonhams’ Hong Kong jewelry auction held last week.
TrendsMay 27, 2025
Amanda’s Style File: Candy-Colored GemstonesGet a taste of the delicious candy-like gemstones in this Amanda’s Style File.
CrimeMay 23, 2025
JSA Shares Holiday Weekend Security Tips Amid Spike in BurglariesJSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.
CollectionsMay 23, 2025
Piece of the Week: Bliss Lau’s ‘Bright’ RingFrom Lau’s “Love of a Kind” series, the engagement ring was inspired by the moon and holds a different meaning depending on how it is worn.
GradingMay 23, 2025
GIA Updates Pearl Classification SystemThe lab has adjusted the scale it uses for nacre grading.
Supplier BulletinMay 22, 2025
How to Put Natural Diamonds Back in the SpotlightSponsored by GCAL by Sarine
CrimeMay 22, 2025
NY Jeweler Sentenced in Shoving Death of Colleague at IJO ShowDavid Walton will serve three years’ probation after an incident in a hotel bar led to the death of West Virginia jeweler David Ettinger.
FinancialsMay 22, 2025
Watches of Switzerland’s Full-Year U.S. Sales Climb 14% The retailer also provided an update on how the tariffs situation in the U.S. is affecting its business.
IndependentsMay 22, 2025
Adeler Jewelers Celebrates 50 YearsThe family-owned jeweler in Great Falls, Virginia, will be celebrating its golden jubilee with a year’s worth of events.
Events & AwardsMay 22, 2025
Jose Hess Design Awards Announce JudgesThe nonprofit elected five judges who will decide the winners of its design competition.
MajorsMay 22, 2025
MJSA Releases 2025-2026 Buyer’s GuideThis year’s edition includes articles on the favorite tools of notable designers, evaluating when to outsource production, and more.
