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
TrendsOct 31, 2025
Piece of the Week: A Spinner Fit for ‘Frankenstein’This “Mother Father” spinner necklace from Heavenly Vices Fine Jewelry draws inspiration from Victorian Era jewelry.
CrimeOct 31, 2025
5 More Arrested in Louvre Heist, Jewelry Still Missing The suspects were rounded up in Paris and its suburbs on Wednesday night, but none of the stolen jewels were recovered with them.
Recorded WebinarsOct 31, 2025
Watch: How to Master Google Reviews for Your BusinessExperts share top tips on how to encourage positive reviews and handle negative feedback.
Supplier BulletinOct 30, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
Weekly QuizOct 30, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeOct 30, 2025
29-Year-Old Man Charged in Multiple Seattle-Area Smash and Grabs The suspect faces charges in the August robbery of Menashe & Sons Jewelers and is accused of committing smash and grabs at two pawn shops.
Lab-GrownOct 30, 2025
Alison Lou’s New Collection Uses Lab-Grown Diamonds and ResinThe “Lumière Fine” collection was born from designer Alison Chemla’s interest in the transformative power of light.
Brought to you by
DESERT DIAMONDS: The Newest Trend in Natural Diamond JewelryFrom sunlit whites to smoky whiskeys, introduce your clients to extraordinary diamonds in colors as unique as their love.
TrendsOct 30, 2025
Amanda’s Style File: A Haunted HalloweenShow off your spooky side with these 12 festive jewels.
Events & AwardsOct 30, 2025
Jewelers Mutual to Host Jewelry Panel at Frazier History MuseumThe “Brilliant & Beyond” panel coincides with the “Love & Marriage” exhibition curated by Davis Jewelers in Louisville, Kentucky.
Events & AwardsOct 29, 2025
October Brings Little Change to Consumer Confidence Consumers are feeling more optimistic about their present situation while the short-term future remains a little scary.
Events & AwardsOct 29, 2025
Couture Partners With Time to WatchesThe company, which organizes a watch show in Geneva every spring, will bring a selection of watch brands to the 2026 Couture show in Vegas.
TrendsOct 29, 2025
Beth Bernstein Releases Vintage Jewelry Guide“The Modern Guide to Vintage Jewellery” follows the evolution of jewelry design from the ‘30s to the ‘80s with buying and styling advice.
EditorsOct 29, 2025
Why Creepy, Crawly Bugs Inspire Beautiful JewelryFor her annual Halloween story, Senior Editor Lenore Fedow explores the symbolism behind spiders, beetles, and other eerie insects.
Events & AwardsOct 28, 2025
Meet the 2026 Gem Award NomineesNotable jewelry designers, members of the press, and retailers are up for an award at next year’s gala.
Recorded WebinarsOct 28, 2025
Watch: The State of the Jewelry Industry Leaders from Jewelers of America and National Jeweler discuss the gold price, tariffs, and more in this one-hour webinar.
CollectionsOct 28, 2025
Eriness Reflects on Life in ‘One of One’ CollectionAfter experiencing motherhood, growth, and loss, founder and designer Erin Sachse has created 10 irreplaceable jewels.
AuctionsOct 27, 2025
Napoleon Left This Brooch Behind, And Now It’s Up For AuctionIt is part of Sotheby’s “Royal & Noble Jewels” sale along with an ornate hair ornament and an old mine-cut light pink diamond ring.
CrimeOct 27, 2025
Arrests Made in Louvre Jewel Heist One of the individuals was apprehended at the airport as he was trying to flee the country.
MajorsOct 27, 2025
Target to Cut 1,800 Corporate JobsThe retailer, which has faced struggling sales in recent quarters, is looking to streamline its operations.
Events & AwardsOct 27, 2025
Hill Management Group Hired to Help Atlanta Jewelry ShowHill Management Group will oversee, market, and produce next year’s spring show.
AuctionsOct 24, 2025
Bonhams Under New Ownership, Top Executives ReplacedLondon-based investment firm Pemberton Asset Management acquired the auction house for an undisclosed amount.
GradingOct 24, 2025
DMIA to Hold Diamond Testing Instrument DemoThe workshop will give attendees the chance to try out and ask questions about three different diamond verification instruments.
CrimeOct 24, 2025
Video Emerges of Louvre Jewelry Robbers Fleeing the Scene The footage shows two of the jewelry heist suspects descending from the second floor of the museum and then escaping via scooter.
CollectionsOct 24, 2025
Piece of the Week: Wyld Box Jewelry’s ‘Ray of Light’ EarringsFounder and designer Rosanna Fiedler looked to a vintage Cartier clutch when designing the sunlight-inspired drop earrings.
FinancialsOct 23, 2025
Jewelry Sales Resilient Despite Struggles at LVMH, KeringThe luxury conglomerates faced a challenging Q3 amid geopolitical and economic tensions.
SourcingOct 23, 2025
Petra Diamonds Turns to Shareholders to Raise Capital The struggling diamond mining company, which owns the historic Cullinan mine, has launched a rights issue to raise about $25 million.
