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

Single Stone Bryn Ring and Grace Lee Marquise Demi Demi Ring
TrendsJun 20, 2025
Dua Lipa Stays On-Trend With Chunky Engagement Ring

The singer’s ring ticks off many bridal trends, with a thick band, half-bezel setting, and solitaire diamond.

Yvonne Léon Python Gold Bracelet
TrendsJun 20, 2025
Piece of the Week: Yvonne Léon’s ‘Python Gold’ Bracelet

The bracelet references vintage high jewelry and snake symbolism as a playful piece where a python’s head becomes a working belt buckle.

Stock image of handcuffs
CrimeJun 18, 2025
7 Men Indicted in $100M Brinks Jewelry Heist

The heist happened in Lebec, California, in 2022 when a Brinks truck was transporting goods from one show in California to another.

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.

Marie-Thérèse Pink diamond and Blue Belle sapphire necklace
AuctionsJun 18, 2025
Historic ‘Marie-Thérèse Pink’ Diamond Fetches $14M at Christie’s

The 10-carat fancy purple-pink diamond with potential links to Marie Antoinette headlined the white-glove jewelry auction this week. 

Weekly QuizJun 20, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Caryl Capeci Starboard Cruises
EditorsJun 18, 2025
Q&A: Caryl Capeci Dives Into Cruise Jewelry Shopping

The Starboard Cruises SVP discusses who is shopping for jewelry on ships, how much they’re spending, and why brands should get on board.

Gresham grasshopper ring
AuctionsJun 18, 2025
16th-Century ‘Gresham Grasshopper’ Ring Sells for $56K

The historic signet ring exceeded its estimate at Noonans Mayfair’s jewelry auction this week.

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.

Kirk Kara fine jewelry
CollectionsJun 18, 2025
Kirk Kara Celebrates 135 Years With New Jewels

To mark the milestone, the brand is introducing new non-bridal fine jewelry designs for the first time in two decades.

Gemfields 36 Carat Ruby
SourcingJun 18, 2025
Gemfields Sells 36-Carat Rough Ruby

The gemstone is the third most valuable ruby to come out of the Montepuez mine, Gemfields said.

Alex Brown
TechnologyJun 18, 2025
Alex Brown Named President of Smithee Group

Founder and longtime CEO Ben Smithee will stay with the agency, transitioning into the role of founding partner and strategic advisor.

Jade Ruzzo Gloria Collar
EditorsJun 17, 2025
The Best New Jewelry from Couture 2025, Part 1

Associate Editor Natalie Francisco shares 20 of her favorite pieces from the jewelry collections that debuted at Couture.

Jewelry industry author, speaker, and sales expert Peter Smith
ColumnistsJun 17, 2025
Peter Smith: Is Your Comp Plan a Hiring Hindrance?

If you want to attract good salespeople and generate a stream of “sleeping money” for your jewelry store, then you are going to have to pay.

Selection of jewelry from Sotheby’s New York High Jewelry sale
AuctionsJun 17, 2025
Colored Gemstones, Signed Jewels Shine in Sotheby’s High Jewelry Sale

The top lot was a colorless Graff diamond, followed by a Burmese ruby necklace by Marcus & Co.

Amanda Gizzi, Jewelers of America’s SVP of corporate affairs
MajorsJun 17, 2025
Amanda Gizzi Gets a Promotion at JA

Gizzi, who has been in the industry since 2001, is now Jewelers of America’s senior vice president of corporate affairs.

Kering CEO Luca de Meo
MajorsJun 17, 2025
Kering Names Automotive Exec as Its New CEO

Luca de Meo, a 30-year veteran of the auto industry, will succeed longtime CEO François-Henri Pinault.

Botswana Minster of Minerals and Energy Bogolo Joy Kenewendo
EditorsJun 16, 2025
Q&A: Bogolo Joy Kenewendo on Mining, Tariffs, and the Energy of Las Vegas

Following visits to Vegas and New York, Botswana’s minerals minister sat down with Michelle Graff to discuss the state of the diamond market.

Greenwich Street Jewelers Your Love Has the Perfect Ring Campaign
IndependentsJun 16, 2025
Greenwich St. Jewelers Launches Commitment Campaign Celebrating LGBTQ+ Couples

The “Your Love Has the Perfect Ring” campaign showcases the strength of love and need for inclusivity and representation, the jeweler said.

Ivette Nersesyan-Stephanopoulos
MajorsJun 16, 2025
Ivette Nersesyan-Stephanopoulos Joins Tiffany & Co.

The former De Beers executive is the jewelry house’s new director of high jewelry for the Americas.

New York Liberty Nyara Sabally Catbird campaign
MajorsJun 16, 2025
Catbird Names WNBA Star Nyara Sabally as Its New Brand Ambassador

The New York Liberty forward is the first athlete to represent the Brooklyn-based jewelry brand.

Robinson Pelham Fruits of Love Pear Earrings
CollectionsJun 13, 2025
Piece of the Week: Robinson Pelham’s Pear Earrings

Take a bite out of the 14-karat yellow gold “Fruits of Love Pear” earrings featuring peridots, diamond stems, and tsavorite leaves.

Three diamonds with diagrams
Events & AwardsJun 13, 2025
AGA to Host ‘Diamonds From Mine to Market’ Education Conference

The one-day virtual event will feature speakers from De Beers, GIA, and Gemworld International.

Ella Sophie
EditorsJun 12, 2025
15 Questions With Jewelry Photographer Ella Sophie

The California-based creative talks jewelry photography in the modern era and tackles FAQs about working with a pro for the first time.

A pink gold Patek Philippe perpetual calendar chronograph Ref. 2499
AuctionsJun 12, 2025
Vintage Patek Philippe From the ‘50s Sells for $4M at Sotheby’s

Al Capone’s pocket watch also found a buyer, though it went for less than half of what it did at auction four years ago.

Gabriel Love Foundation Logo
Events & AwardsJun 12, 2025
Gabriel Love Foundation Introduces Scholarship Honoring Elias Gabriel

The foundation has also expanded its “Stronger Together” initiative with Jewelers for Children.

Celine Assimon
AuctionsJun 12, 2025
Former De Beers Exec Celine Assimon Joins Bonhams

Assimon is the auction house’s new chief commercial officer.

De Beers CEO Al Cook speaking at JCK Las Vegas 2025
EditorsJun 11, 2025
Q&A: Al Cook on Differentiating Natural Diamonds, Traceability, and Tariffs

The De Beers Group CEO discusses the company’s new “beacon” program, the likelihood diamonds will be exempt from tariffs, and “Origin.”

×

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