SurveysMay 01, 2024
Consumer Confidence Falls in AprilSurveysJun 10, 2024
Consumer Confidence Rises in May Despite Anxiety About the Future
Expectations of a recession rose for the second consecutive month.
The Conference Board’s consumer confidence index rose in May after three consecutive months of decline.
New York—U.S. consumer confidence rose in May following three consecutive months of decline, but anxiety about the future lingers.
The Conference Board’s consumer confidence index rose to 102 in May from 97.5 in April.
“According to May’s write-in responses, consumers cited prices, especially for food and groceries, as having the greatest impact on their view of the U.S. economy,” said Dana M. Peterson, chief economist at The Conference Board.
“Compared to last month, confidence improved among consumers of all age groups,” she said.
Those making more than $100,000 saw the largest rise in confidence.
On a six-month moving average basis, confidence continued to be highest among the youngest and wealthiest consumers, it found, including those under 35 and those making more than $100,000.
The average 12-month inflation expectations rose slightly to 5.4 percent from 5.3 percent.
“Perhaps as a consequence, the share of consumers expecting higher interest rates over the year ahead also rose, from 55 percent to 56 percent,” said the Conference Board.
The Present Situation Index, which measures consumers’ current view of business and labor market conditions, rose to 143.1 in May from 140.6 in April.
Consumers’ view of current business conditions was less optimistic in May, with the percentage of respondents who said current business conditions are “good” down to 20 percent from 21 percent in April, while those who said conditions are “bad” was unchanged at 18 percent.
Consumers’ view of the labor market was mixed, with those who said jobs were “plentiful” flat while those who said jobs were “hard to get” fell to 14 percent from 16 percent.
Related stories will be right here …
The Conference Board’s consumer confidence index rose to 102 in May from 97.5 in April.
“According to May’s write-in responses, consumers cited prices, especially for food and groceries, as having the greatest impact on their view of the U.S. economy,” said Dana M. Peterson, chief economist at The Conference Board.
“Compared to last month, confidence improved among consumers of all age groups,” she said.
Those making more than $100,000 saw the largest rise in confidence.
On a six-month moving average basis, confidence continued to be highest among the youngest and wealthiest consumers, it found, including those under 35 and those making more than $100,000.
The average 12-month inflation expectations rose slightly to 5.4 percent from 5.3 percent.
“Perhaps as a consequence, the share of consumers expecting higher interest rates over the year ahead also rose, from 55 percent to 56 percent,” said the Conference Board.
The Present Situation Index, which measures consumers’ current view of business and labor market conditions, rose to 143.1 in May from 140.6 in April.
Consumers’ view of current business conditions was less optimistic in May, with the percentage of respondents who said current business conditions are “good” down to 20 percent from 21 percent in April, while those who said conditions are “bad” was unchanged at 18 percent.
Consumers’ view of the labor market was mixed, with those who said jobs were “plentiful” flat while those who said jobs were “hard to get” fell to 14 percent from 16 percent.
The Expectations Index, which measures consumers’ outlook for income, business, and labor market conditions in the near future, rose to 74.6 from 68.8 in April.
Notably, an Expectations Index reading below 80 often signals a recession ahead, said the Conference Board. It has been below 80 for four consecutive months.
Consumers’ view of short-term business conditions outlook was also mixed in May.
The percentage of respondents who expect business conditions to improve was flat at 13 percent while those who expect business conditions to worsen was down to 17 percent from 19 percent.
Consumers’ assessment of the short-term labor market outlook in May was more positive.
The percentage of respondents who expect more jobs to be available was up to 13 percent from 12 percent, while the number of respondents who expect fewer jobs to be available was down to 18 percent from 20 percent.
Consumers’ assessment of their short-term income prospects was also mixed.
The number of respondents who expect their incomes to increase was flat at 17 percent, while 11 percent of respondents expect their incomes to decrease, down from 14 percent.
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.
The “Consumers’ Perceived Likelihood of a U.S. Recession Over the Next 12 Months” rose for the second consecutive month.
“The survey also revealed a possible resurgence in recession concerns,” said Peterson, with more consumers believing recession is “somewhat likely” or “very likely.”
This finding contrasts with the CEO assessments of recession risk found in its CEO Confidence survey, which reported only 35 percent of CEOs surveyed in April anticipated a recession within the next 12 to 18 months.
Consumers were optimistic about the stock market, however, with 48 percent expecting stock prices to increase over the year ahead, 25 percent expecting a decrease, and 26 percent expecting no change.
Regarding big-ticket items, purchasing plans were mixed among respondents.
On a six-month moving average basis, purchasing plans for homes were unchanged in May at their lowest level since August 2012.
Plans to buy autos, though still “relatively depressed,” were up slightly for the second month, plans for most big-ticket appliances increased for the first time in several months.
More on Surveys
The Latest
IndependentsSep 04, 2026
Orloff Jewelers Will Soon Unveil a Bigger, Better LocationThe California jeweler is renovating its store in Fresno, with plans to show off the new space in December.
CollectionsSep 04, 2026
Chelsea Gabrielle Transforms Pilates Reformer Springs Into Ring A lifelong practitioner of Pilates, Gabrielle looked to the springs’ tension and suspension when creating this ring, our Piece of the Week.
Events & AwardsSep 04, 2026
JCK Industry Fund Accepting 2027 ApplicationsThe deadline to apply is Nov. 13.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
AuctionsSep 04, 2026
Christie's Names New Global Head of WatchesThe auction house has promoted Remi Guillemin, formerly its head of watches for the Americas and EMEA, to the role.
Weekly QuizSep 03, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsSep 03, 2026
Q&A: Simon G.’s CEO on Why He Won’t Use AI for Jewelry DesignZaven Ghanimian discussed the value of human craftsmanship and where the implementation of artificial intelligence does work.
Events & AwardsSep 03, 2026
Here Are the First Recipients of Nina Pugliese Memorial Scholarship Jewelers of America also revealed the recipients of the Seymour & Evelyn Holtzman Bench Scholarship and its own scholarship programs.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
WatchesSep 03, 2026
Robert Pattinson Joins Jaeger-LeCoultre as Brand AmbassadorThe British actor, known for his roles in “Twilight” and “The Odyssey,” will star in a campaign for the Master Control Chronometre.
CollectionsSep 03, 2026
Sydney Evan Celebrates 25 Years With 4 New CollectionsThe “Confetti Disco,” “Champagne Cheers,” “Tuxedo,” and “Classic Punk” jewelry collections each capture a distinct spirit of celebration.
CrimeSep 02, 2026
CA Jeweler Gets 5 Years in ‘Phantom Rolex’ Ponzi SchemeNelson Holdo of Newport Beach pleaded guilty to multiple counts of felony grand theft and writing bad checks and was sentenced Monday.
AuctionsSep 02, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s “significant” collection of cat jewelry and other objects is going up for auction.
MajorsSep 02, 2026
Messika Names Former Omega Exec as New President, CEO of AmericasArnaud Michon, the former Omega USA President, will now lead Messika’s Americas region during its international development.
Events & AwardsSep 02, 2026
Emerald’s New Owner Introduces ‘Glitter in the Grove’The branding references the back-to-back jewelry shows that new parent company Forge will host in Miami's Coconut Grove this November.
AuctionsSep 01, 2026
UK Woman Uncovers Rare Patek Philippe Watch in Mom’s Jewelry BoxThe stainless steel Patek Philippe “Calatrava” watch from the 1930s sold for nearly $80,000 at a recent Hansons Cornwall auction.
ColumnistsSep 01, 2026
Your Jewelry Marketing Has a Bridal ProblemEngagement rings are important but don’t ignore the customers who are buying jewelry “just because,” Emmanuel Raheb writes.
MajorsSep 01, 2026
Kering Names New Pomellato, DoDo CEOsFormer Pomellato CEO Sabina Belli has been named president of Kering Italia amid a shakeup of Kering's new Jewelry division.
MajorsSep 01, 2026
Anne Marie Shulman Joins GPA GlobalThe veteran luxury packaging executive was appointed to help the company grow its North American business.
CrimeAug 31, 2026
$4M Van Cleef & Arpels Diamond Necklace Snatched From Vienna Museum Once the property of an Egyptian queen, the necklace was part of a larger exhibition of VCA jewelry at the Museum of Applied Arts (MAK).
GradingAug 31, 2026
GIA, Gübelin Gem Lab Confirm New Paraíba Tourmaline Deposit in EthiopiaThe labs’ separate investigations each determined that the East African country is producing copper-bearing tourmaline.
Events & AwardsAug 31, 2026
Wisconsin Museum to Host Jewelry Exhibition“Chicago Collects: Jewelry in Perspective” at the Oshkosh Public Museum will feature works by Fabergé, Lalique, and Louis Comfort Tiffany.
CollectionsAug 31, 2026
Catbird Launches First Men’s Jewelry CollectionThe “Worn Well” collection is Catbird's take on classic men's jewelry.
CollectionsAug 28, 2026
Dolly Parton Would Have Loved This Butterfly Necklace This Buddha Mama butterfly is our Piece of the Week honoring the legend, who embraced the beautiful insect as her symbol.
SourcingAug 28, 2026
Gareth Penny to Give Opening Speech at CIBJO Centenary CongressThe former De Beers CEO, and perhaps its next owner, will be a featured speaker at the event, slated for Sept. 4-7 in Italy.
IndependentsAug 28, 2026
Day’s Jewelers Honored With 3 Workplace AwardsThe employee-owned jeweler was named a “Best Place to Work” in Maine, New Hampshire, and for women.
CollectionsAug 27, 2026
Pandora Expands ‘Talisman’ Collection as Lawsuit Continues The second iteration of the jewelry collection was inspired by the zodiac and the four elements: earth, water, air and fire.
SourcingAug 27, 2026
OFAC Renews License Allowing Import of ‘Grandfathered’ Russian Diamonds General License 104B supersedes General License 104A, which was set to expire on Sept. 1.
