Surveys

Consumer Confidence Falls in April

SurveysMay 01, 2024

Consumer Confidence Falls in April

Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.

Woman holding a dress
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 … 

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.

The Latest

GIA iD100® Technology
Supplier BulletinJul 03, 2025
Protect Your Customers and Your Business

Sponsored by the Gemological Institute of America

Madison Keys in Brilliant Earth campaign
MajorsJul 03, 2025
Brilliant Earth Names Tennis Star Madison Keys as Its New Ambassador

The 2025 Australian Open champion is the jewelry brand’s first athlete ambassador.

Muse Nordstrom shop-in-shop
MajorsJul 03, 2025
Muse Sets Up Shop in Nordstrom’s New Jewelry Hall

The West Village jewelry boutique’s new shop-in-shop is the cornerstone of Nordstrom’s revamped jewelry hall.

an instructor and a student in a bench jewelry classroom
Brought to you by
Investing in the Next Generation of Bench Jewelers

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

Shree Ramkrishna Exports
SourcingJul 03, 2025
SRK Announces Its Natural Diamonds Are Now Carbon-Negative

This past year, the manufacturer said it recorded below-zero emissions per carat of natural diamond.

Weekly QuizJul 02, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Yeprem Golden Strada Statement Necklace
CollectionsJul 03, 2025
Piece of the Week: A Firework of Diamonds From Yeprem

The brand’s “Golden Strada” statement necklace features round, marquise, and pear diamonds that sparkle like Fourth of July fireworks.

Stock image of police cars with their lights on
CrimeJul 03, 2025
JSA Shares Holiday Weekend Security Tips Amid Spike in Burglaries

JSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.

Jewelers of America logo with meetup, State of the Majors, giveaway and massages
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

Exterior and entryway of Boucheron’s Los Angeles Flagship
MajorsJul 02, 2025
Boucheron Looks to LA for First West Coast Flagship

Located on Rodeo Drive, the store’s design was inspired by Hollywood and Los Angeles culture.

Exterior of Marco Bicego Milan Flagship
MajorsJul 02, 2025
Marco Bicego Opens Milan Flagship

The new location continues the brand’s celebration of its 25th anniversary.

Chrono24 Time Is Our Thing campaign image
WatchesJul 02, 2025
Chrono24 Revamps Brand, Launches New Campaign

The online watch marketplace’s “Time Is Our Thing” campaign highlights the importance of time.

Bernadette Mack
SourcingJul 02, 2025
Bernadette Mack Joins Gem Legacy as Executive Director

She will oversee strategic planning, fundraising, industry partnerships, and the launch of the Gem Legacy Campus in Tanzania.

Counterfeit Pandora jewelry in bags and boxes
CrimeJul 02, 2025
Pandora, Amazon Partner to Uncover Counterfeit Jewelry Network

Working with Amazon’s Counterfeit Crimes Unit and law enforcement, Pandora helped to shut down a large-scale counterfeit network in China.

Cast Issa Rae
MajorsJul 01, 2025
Cast Closes Business, Plans for Relaunch

The jewelry company has closed its three California brick-and-mortar stores, as well as its online shop, for now.

Eve Goldberg, Matthew Denatale, Willie Lopez, Benjamin Goldberg
Events & AwardsJul 01, 2025
William Goldberg Diamonds, FIT Partner for Apprenticeship Program

The company is providing the opportunity for an FIT student to work alongside master diamond cutter Willie Lopez in its workshop.

Elie Hannoush
IndependentsJul 01, 2025
Elie Hannoush, Founder of Hannoush Jewelers, Dies at 73

He is remembered for his successful entrepreneurship, generosity, and dedication to his family.

Claire’s store
MajorsJul 01, 2025
Claire’s Is Looking for a Buyer, Report Says

The jewelry store chain has reportedly been struggling with costs related to tariffs as well as tough retail competition.

Mindi Mond Spike Earrings
TrendsJul 01, 2025
Amanda’s Style File: Red Hot Rubies

Welcome warm summer days with red hot rubies perfectly chosen as July’s birthstone.

The Story of Everything Campaign, Toadstool Mushroom and Cosmic Egg
CollectionsJun 30, 2025
State Property’s New Jewelry Tells ‘The Story of Everything’

Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.

Smart Age Solutions CEO Emmanuel Raheb
ColumnistsJun 30, 2025
The Smart Lab: Why Q3 Is the Secret Weapon For Holiday Jewelry Sales

The best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.

Morgan Keefe
Events & AwardsJun 30, 2025
AGA Names Recipient of 2025 Gemological Education Scholarship

This year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.

The Jewelry Book
IndependentsJun 30, 2025
Melanie Grant’s New Book Explores 200 Years of Jewelry

“The Jewelry Book” comes out this September.

Gemist
TechnologyJun 27, 2025
Gemist Raises $6M in Funding to Scale Jewelry Tech Platform

The company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.

Jeff Preolo, David Stout, Levi Higgs, David Benavides
IndependentsJun 27, 2025
David Webb Announces New Hires, Promotions

Following its recent acquisition, the storied brand has updated its leadership team and regional managers.

Blake Graham and Jessica Kohoutek
Events & AwardsJun 27, 2025
AGS, GIA Announce Beatrice Shipley Scholarship Winner

AGS also named the recipient of its “Women in Leadership” scholarship.

Buddha Mama Monstera Ring
CollectionsJun 27, 2025
Piece of the Week: Buddha Mama’s ‘Monstera’ Wrap Ring

The 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.

Cashier handing Rocksbox bag to customer
MajorsJun 26, 2025
Why Rocksbox Is Opening Stores As Signet Jewelers Downsizes

Rocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy