SurveysApr 29, 2024
Mother’s Day Jewelry Spending to Reach $7B, Says NRFSurveysMay 01, 2024
Consumer Confidence Falls in April
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
The Conference Board’s consumer confidence index fell to 97 in April, marking a third consecutive month of decline.
New York—U.S. consumer confidence fell in April as consumers held a more negative outlook about the current labor market and future jobs, income, and business conditions.
It marks the third consecutive month of decline, reaching its lowest level since July 2022.
The Conference Board’s consumer confidence index fell to 97 in April, down from a downwardly revised 103.1 in March.
“Despite these three months of weakness, the gauge continues to move sideways within a relatively narrow range that’s largely held steady for more than two years,” said the Conference Board.
“Despite April’s dip in the overall index, since mid-2022, optimism about the present situation continues to more than offset concerns about the future,” said Dana M. Peterson, chief economist at the Conference Board.
Confidence declined among all age groups and income levels, except for the $25,000 to $49,999 bracket.
Consumers under 35 continued to show greater confidence than those over 35.
Households with incomes below $25,000 and those above $75,000 reported the largest drop in confidence.
Over a six-month basis, confidence for consumers earning less than $50,000 has been stable, while confidence among consumers earning more has declined.
“According to April’s write-in responses, elevated price levels, especially for food and gas, dominated consumer’s concerns, with politics and global conflicts as distant runners-up,” said Peterson.
Average 12-month inflation expectations remained stable at 5.3 percent in spite of concerns about food and energy prices.
The “Consumers’ Perceived Likelihood of a U.S. Recession Over the Next 12 Months” rose slightly in April but was below the May 2023 peak.
The Present Situation Index, which measures consumers’ current view of business and labor market conditions, fell to 142.9 in April from a downwardly revised 146.8 in March.
Consumers’ view of current business conditions was more optimistic in April, with the percentage of respondents who said current business conditions are “good” up at 21 percent from 19 percent in March, while those who said conditions are “bad” decreased to 17 percent from 18 percent.
Consumers’ view of the labor market, however, was more negative.
The percentage of respondents who felt jobs were plentiful was down to 40 percent from 42 percent, while 15 percent said jobs were “hard to get,” up from 12 percent in March.
Related stories will be right here …
It marks the third consecutive month of decline, reaching its lowest level since July 2022.
The Conference Board’s consumer confidence index fell to 97 in April, down from a downwardly revised 103.1 in March.
“Despite these three months of weakness, the gauge continues to move sideways within a relatively narrow range that’s largely held steady for more than two years,” said the Conference Board.
“Despite April’s dip in the overall index, since mid-2022, optimism about the present situation continues to more than offset concerns about the future,” said Dana M. Peterson, chief economist at the Conference Board.
Confidence declined among all age groups and income levels, except for the $25,000 to $49,999 bracket.
Consumers under 35 continued to show greater confidence than those over 35.
Households with incomes below $25,000 and those above $75,000 reported the largest drop in confidence.
Over a six-month basis, confidence for consumers earning less than $50,000 has been stable, while confidence among consumers earning more has declined.
“According to April’s write-in responses, elevated price levels, especially for food and gas, dominated consumer’s concerns, with politics and global conflicts as distant runners-up,” said Peterson.
Average 12-month inflation expectations remained stable at 5.3 percent in spite of concerns about food and energy prices.
The “Consumers’ Perceived Likelihood of a U.S. Recession Over the Next 12 Months” rose slightly in April but was below the May 2023 peak.
The Present Situation Index, which measures consumers’ current view of business and labor market conditions, fell to 142.9 in April from a downwardly revised 146.8 in March.
Consumers’ view of current business conditions was more optimistic in April, with the percentage of respondents who said current business conditions are “good” up at 21 percent from 19 percent in March, while those who said conditions are “bad” decreased to 17 percent from 18 percent.
Consumers’ view of the labor market, however, was more negative.
The percentage of respondents who felt jobs were plentiful was down to 40 percent from 42 percent, while 15 percent said jobs were “hard to get,” up from 12 percent in March.
The Expectations Index, which measures consumers’ outlook for income, business, and labor market conditions in the near future, fell to 66.4 from an upwardly revised 74 in March.
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 July 2022, it said.
Looking at short-term business conditions, respondents’ outlooks were more pessimistic, with 13 percent of respondents expecting business conditions to improve, down from 14 percent in March.
The number of respondents that expect them to worsen was up to 20 percent from 19 percent.
Consumers’ assessment of the short-term labor market outlook in April was also more negative.
The percentage of respondents who expect more jobs to be available was down to 12 percent from 14 percent, while the number of respondents who expect fewer jobs to be available was up to 20 percent from 19 percent.
Consumers’ assessment of their short-term income prospects was also more pessimistic in April.
The number of respondents who expect their incomes to increase was down to 15 percent from 17 percent in March, while a flat 14 percent of respondents expect their incomes to decrease.
Consumers were also less optimistic about their family’s financial situation, both currently and over the next six months, a measure not included when calculating the Present Situation and Expectations Index.
Expectations that stock prices will increase over the year ahead declined slightly, after rising every month since November of last year, it said.
The percentage of consumers expecting higher interest rates in the year ahead rose again to 53.8 percent in April.
Plans to buy homes and big-ticket appliances, purchases that tend to be sensitive to interest rates, continued to soften.
Vacation plans, both within the U.S. and abroad, also declined to the lowest level since June 2023.
More on Surveys
The Latest
CollectionsMar 12, 2026
Jessica McCormack Sends Gold, Gemstones Into ‘Orbit’McCormack looked to the 19th century’s “golden age” of astronomy when designing her new celestial-themed collection.
Events & AwardsMar 12, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on Friday.
TechnologyMar 12, 2026
Caratwise Launches, Names Former Signet Exec CEO The new smart design software allows jewelers to configure, price, and confirm a custom engagement ring in real time for in-store customers.
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.
SourcingMar 12, 2026
Grandview Klein Opens New Factory in South Africa The 10,000-square-foot diamond manufacturing facility officially opened in late February and employs 50 people.
Weekly QuizMar 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMar 12, 2026
MJSA ‘Future of Jewelry Making’ Scholarship Applications OpenThe MJSA Education Foundation’s scholarships support students pursuing jewelry careers.
AuctionsMar 11, 2026
‘Spectacular’ 26-Carat Diamond Going Up for Auction in London The largest white diamond to come to market in the U.K. in more than a decade, the VVS1, I-color stone is expected to top $1 million.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
TechnologyMar 11, 2026
Cast Jewelry’s Rachel Skelly on Coming Back Online Only Skelly shares her plans for reimagining the fine jewelry retailer she re-acquired after it faltered last year.
CollectionsMar 11, 2026
Pyrrha Highlights ‘The Space Between’ In New CollectionThe collection takes inspiration from the emotional space between people, moments, and experiences.
IndependentsMar 11, 2026
From the Jazz Age to the Information Age: London Jewelers Turns 100In 2026, the jewelry retailer is celebrating a milestone only a small percentage of family-owned businesses survive to see.
IndependentsMar 11, 2026
Virginia Jewelers Raise Nearly $30K for Children’s HospitalThe group of jewelers held a jewelry raffle in support of the Children’s Hospital of Richmond at VCU.
FinancialsMar 10, 2026
Signet Jewelers’ Q4 Sales Fall Flat The jewelry giant released preliminary results for the fourth quarter and full year on Monday, with final results slated to come next week.
MajorsMar 10, 2026
Saks Global to Close 15 More StoresThe retailer also gave an update on its vendor partnerships.
TrendsMar 10, 2026
Messika Names Julianne Moore as AmbassadorThe award-winning actress is the “epitome of modern allure,” the brand said.
CollectionsMar 10, 2026
Gemstones ‘Bloom’ in Sorellina’s New CollectionThe “Bloom” collection draws from the flower power movement of the 1960s and ‘70s with inlay pendants offered in eight colorways.
Events & AwardsMar 10, 2026
Diamond-Studded Painting Shines at RJO Foundation AuctionThe unique piece was one of the custom works offered at the foundation's recent silent art auction, which garnered nearly $15,000 in total.
TrendsMar 09, 2026
Jake Gyllenhaal Is Bulgari’s Latest AmbassadorBulgari named Gyllenhaal as its brand ambassador for his embodiment of artistic depth, intellectual curiosity, and warmth.
Events & AwardsMar 09, 2026
TJS Announces 2026 Scholarship WinnersAwards were given to four students, one apprentice, and an emerging jeweler.
AuctionsMar 09, 2026
Joanna Carson’s Jewels Lead White-Glove SaleThe top jewelry lot of the late model’s estate sale, hosted by John Moran Auctioneers, was an Oscar Heyman & Brothers for Cartier necklace.
GradingMar 06, 2026
Tom Moses Leaving GIA After Nearly 50 YearsMoses, who started at GIA’s Santa Monica lab in 1976, will leave the Gemological Institute of America in May.
Lab-GrownMar 06, 2026
Charles & Colvard Files for Bankruptcy, Citing Price PressuresIncreased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.
CollectionsMar 06, 2026
Zome’s ‘Solara’ Earrings Embody Celestial BeautyThe earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.
MajorsMar 06, 2026
Pomellato’s 2026 IWD Campaign Spotlights Economic Abuse“The Price of Freedom” campaign video for International Women’s Day confronts the quiet violence of financial control.
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
CollectionsMar 05, 2026
Common Era Honors ‘Difficult Women’ in CollectionThe ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.
TrendsMar 05, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
