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.
Editors' Picks
Sponsored by
More on Surveys
The Latest
SourcingJul 15, 2026
1,305-Carat Diamond Recovered from Mine in BotswanaThe yet-to-be named stone is the 10th diamond weighing more than 1,000 carats to come out of Lucara’s Karowe mine.
IndependentsJul 15, 2026
New Jersey Jeweler Barry Berman Dies at 81The founder of Fords Jewelers, Berman is remembered for his love of connecting with his community.
FinancialsJul 15, 2026
Watches of Switzerland’s US Sales Jump 18%, Declines to Comment on Sale Report The watch and jewelry retailer had a strong fiscal year despite what its CEO described as a “complex operating backdrop.”
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
Events & AwardsJul 15, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
Weekly QuizJul 09, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJul 15, 2026
Pomellato’s New High Jewelry Is LiberatingBold color, expressive gem-setting, and sculptural form define the three chapters that make up “Stile Libero.”
IndependentsJul 14, 2026
Foundrae Opens First Standalone Store Outside USThe New York-based jewelry brand has expanded overseas, opening a store in London’s Mayfair district.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
ColumnistsJul 14, 2026
Sherry Smith: What Today’s Jewelry Consumer Is Telling Us Rising revenue does not automatically mean a healthy business, particularly in the current economic landscape, Smith writes.
TrendsJul 14, 2026
Amanda’s Style File: Shoulder Dusters These long, fluid drop earrings are sure to catch the eye.
CrimeJul 14, 2026
Man Charged in $1M Jewelry Store Heist Lands on FBI Most Wanted ListAlberto Perez-Elias is one of four men charged with robbing a Cape Coral, Florida, jewelry store and is the only one still at large.
Events & AwardsJul 14, 2026
Conference on Mining, Sustainability Kicks Off in NYCInitiatives in Art and Culture is hosting its 16th annual Gold and Diamond Conference, with the theme of “Resilience.”
Lab-GrownJul 13, 2026
Stephanie Gottlieb Changes Her Mind on Lab-Grown DiamondsThe designer, who once said she’d never sell lab-grown diamonds, debuted two capsule collections designed to be fun and easy to wear.
SourcingJul 13, 2026
De Beers Announces Potential Layoffs, 2-Year Production Pause at VenetiaThe diamond miner and marketer is undergoing another round of cost-cutting measures ahead of its sale by Anglo American.
Events & AwardsJul 13, 2026
Registration Opens for JIS Fall 2026 ShowThe annual trade-only buying event is slated for Oct. 16-19 in Miami Beach, Florida.
Events & AwardsJul 13, 2026
AGTA Accepting Entries for Spectrum 2026AGTA also has announced the lineup of judges for the colored gemstone cutting and jewelry design contest’s various categories.
TechnologyJul 10, 2026
There’s a New Blind Box for Luxury Watches Collectibles platform Arena Club’s new Time Boxes could contain a Rolex or Patek Philippe watch.
TrendsJul 10, 2026
Jade Trau Creates a Constellation of DiamondsThe “Constellation Plié” collar, our Piece of the Week, features diamonds arranged in a constellation of shining stars.
SourcingJul 10, 2026
CFO of De Beers’ Consumer-Facing Division Leaves Company Shaun Wills joined the company in 2024 and was chief financial officer of the De Beers Brands and Consumer Markets division.
WatchesJul 10, 2026
Brilliant Earth Expands Into WatchesIn honor of its 20th anniversary, the jewelry brand has released a limited-edition collection of Swiss-made timepieces.
CollectionsJul 09, 2026
Boucheron’s New High Jewelry Collection Is an Ode to the Human Touch“Human Being” highlights the similarities and differences between us through five sets of jewelry that celebrate fine craftsmanship.
WatchesJul 09, 2026
Damiani Group Finalizes Acquisition of Baume & MercierRichemont will continue to provide operational services for the watch brand for a period while the group prepares to integrate it.
AuctionsJul 09, 2026
Pharrell Williams’ Joopiter Hires Former Bonhams Exec to Head New Watch DivisionNate Borgelt will lead the digital auction house and content platform’s new division as head of watches.
Events & AwardsJul 09, 2026
Halstead Names 2026 Grant WinnerEnoch Platero, founder and designer behind Enoch Michael, is the first Native American jeweler to win the award.
Events & AwardsJul 09, 2026
AGS, GIA Name 2026 Beatrice Shipley Scholarship WinnerAGS also announced the recipient of its “Women in Leadership” scholarship.
MajorsJul 08, 2026
Kendra Scott Joins ‘Shark Tank’ As Permanent Investor The founder of the billion-dollar jewelry and lifestyle brand will debut as a full-time “Shark” on the upcoming season of the show.
CrimeJul 08, 2026
Here’s What Thieves Stole From the Lalique Museum René Lalique’s “Woman Dragonfly With Open Wings” pendant, the first piece the museum acquired, was one of the jewels taken.
