SurveysJun 25, 2024
Jewelry a Top Performer in ‘Stalled’ Luxury Market, Says Bain & Co.SurveysJun 26, 2024
Consumer Confidence Slips in June Amid Rising Prices
The costs of food and groceries remained a top concern, followed by the labor market and U.S. politics.
The Conference Board’s consumer confidence index fell to 100.4 in June from 101.3 in May.
New York—U.S. consumer confidence fell in June as concerns about rising prices remain.
The Conference Board’s consumer confidence index fell to 100.4 in June from a downwardly revised 101.3 in May.
Similar to last month, June’s write-in responses showed high prices, especially for food and groceries, continued to impact consumers’ views of the economy, followed by the labor market and U.S. politics.
“Consumers expressed mixed feelings this month: their view of the present situation improved slightly overall, driven by an uptick in sentiment about the current labor market, but their assessment of current business conditions cooled,” said Dana M. Peterson, chief economist at The Conference Board.
“Meanwhile, for the second month in a row, consumers were a bit less pessimistic about future labor market conditions. However, their expectations for both future income and business conditions weakened, weighing down the overall Expectations Index."
As for election season, the share of respondents who said the 2024 election would impact the economy was low in comparison to write-ins in June 2016 and slightly higher than in 2020.
“Confidence pulled back in June but remained within the same narrow range that’s held throughout the past two years, as strength in current labor market views continued to outweigh concerns about the future,” said Peterson.
“However, if material weaknesses in the labor market appear, confidence could weaken as the year progresses.”
The decline in confidence from May to June was attributed mainly to consumers aged 35 to 54.
Those under 35 and those 55 and older saw an improvement, though there was no clear pattern according to income groups, said Peterson.
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 declined slightly to 5.3 percent from 5.4 percent in May.
The Present Situation Index, which measures consumers’ current view of business and labor market conditions, rose to 141.5 in June from 140.8 in May.
Consumers’ view of current business conditions was less optimistic in June, with the percentage of respondents who said current business conditions are “good” down to 20 percent from 21 percent in May, while those who said conditions are “bad” was flat at 18 percent.
Consumers’ view of the labor market improved in June, with those who said jobs were “plentiful” up to 38 percent from 37 percent in May, while those who said jobs were “hard to get” was flat at 14 percent.
Related stories will be right here …
The Conference Board’s consumer confidence index fell to 100.4 in June from a downwardly revised 101.3 in May.
Similar to last month, June’s write-in responses showed high prices, especially for food and groceries, continued to impact consumers’ views of the economy, followed by the labor market and U.S. politics.
“Consumers expressed mixed feelings this month: their view of the present situation improved slightly overall, driven by an uptick in sentiment about the current labor market, but their assessment of current business conditions cooled,” said Dana M. Peterson, chief economist at The Conference Board.
“Meanwhile, for the second month in a row, consumers were a bit less pessimistic about future labor market conditions. However, their expectations for both future income and business conditions weakened, weighing down the overall Expectations Index."
As for election season, the share of respondents who said the 2024 election would impact the economy was low in comparison to write-ins in June 2016 and slightly higher than in 2020.
“Confidence pulled back in June but remained within the same narrow range that’s held throughout the past two years, as strength in current labor market views continued to outweigh concerns about the future,” said Peterson.
“However, if material weaknesses in the labor market appear, confidence could weaken as the year progresses.”
The decline in confidence from May to June was attributed mainly to consumers aged 35 to 54.
Those under 35 and those 55 and older saw an improvement, though there was no clear pattern according to income groups, said Peterson.
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 declined slightly to 5.3 percent from 5.4 percent in May.
The Present Situation Index, which measures consumers’ current view of business and labor market conditions, rose to 141.5 in June from 140.8 in May.
Consumers’ view of current business conditions was less optimistic in June, with the percentage of respondents who said current business conditions are “good” down to 20 percent from 21 percent in May, while those who said conditions are “bad” was flat at 18 percent.
Consumers’ view of the labor market improved in June, with those who said jobs were “plentiful” up to 38 percent from 37 percent in May, while those who said jobs were “hard to get” was flat at 14 percent.
The Expectations Index, which measures consumers’ outlook for income, business, and labor market conditions in the near future, fell to 73 from 74.9 in May.
Notably, an Expectations Index reading below 80 often signals a recession ahead, said the Conference Board. It has been below 80 for five consecutive months.
Consumers’ view of the short-term business conditions outlook was more pessimistic in June.
The percentage of respondents who expect business conditions to improve was down to 13 percent from 14 percent, while those who expect conditions to worsen was unchanged at 17 percent.
Consumers’ assessment of the short-term labor market outlook in June was slightly more positive.
The percentage of respondents who expect more jobs to be available was flat at 13 percent, while the number of respondents who expect fewer jobs to be available was down to 17 percent from 19 percent.
Consumers’ assessment of their short-term income prospects was more negative.
The number of respondents who expect their incomes to increase was down to 15 percent from 18 percent in May, while those who expect their incomes to decrease was flat at 12 percent.
Consumers were also less optimistic about their family’s current financial situation, a measure not included when calculating the Present Situation and Expectations Index.
Their view of their family’s future financial situation was unchanged.
The “Consumers’ Perceived Likelihood of a U.S. Recession Over the Next 12 Months” declined in June after rising in April and May.
Consumers were optimistic about the stock market, however, with 48 percent expecting stock prices to increase over the year ahead, 24 percent expecting a decrease, and 28 percent expecting no change.
The number of consumers expecting higher interest rates over the next twelve months dropped to 53 percent, its lowest level since February.
Purchasing plans for homes were unchanged in June and remained historically low, said the Conference Board. Plans to buy cars were also at a standstill.
Buying plans for most big-ticket appliances and smartphones were up slightly, while fewer planned to buy a laptop or PC.
The number of respondents planning a vacation over the next six months continued to increase, staying above June 2023 levels.
Notably, more people plan to travel by car than by plane.
The number of consumers planning to go on vacation is about 10 percentage points lower than it was pre-pandemic.
More on Surveys
The Latest
MajorsJan 09, 2026
Kendra Scott Taps Activewear Exec as CEO Chris Blakeslee has experience at Athleta and Alo Yoga. Kendra Scott will remain on board as executive chair and chief visionary officer.
AuctionsJan 09, 2026
Christie’s Names New Global Managing Director for LuxuryKimberly Miller has been promoted to the role.
CollectionsJan 09, 2026
Piece of the Week: Lionheart’s ‘Serenity’ Opal CharmThe “Serenity” charm set with 13 opals is a modern amulet offering protection, guidance, and intention, the brand said.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
CollectionsJan 08, 2026
Pandora’s New ‘Bridgerton’ Jewels Celebrate Bees, Bows, and Blooms“Bridgerton” actresses Hannah Dodd and Claudia Jessie star in the brand’s “Rules to Love By” campaign.
Weekly QuizJan 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJan 08, 2026
Ana Khouri To Receive 2026 Gem Award for High Jewelry ExcellenceFounded by jeweler and sculptor Ana Khouri, the brand is “expanding the boundaries of what high jewelry can be.”
TrendsJan 08, 2026
Stuller’s Color of the Year Is a Stark Contrast to Pantone’s WhiteThe jewelry manufacturer and supplier is going with a fiery shade it says symbolizes power and transformation.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
CollectionsJan 08, 2026
Gracie Abrams To Front New Chanel Jewelry CampaignThe singer-songwriter will make her debut as the French luxury brand’s new ambassador in a campaign for its “Coco Crush” jewelry line.
MajorsJan 08, 2026
Diamond Council of America Names New Board DirectorsThe nonprofit’s new president and CEO, Annie Doresca, also began her role this month.
ColumnistsJan 07, 2026
Peter Smith: Physical Retail—The Beginning or the End?As the shopping mall model evolves and online retail grows, Smith shares his predictions for the future of physical stores.
Events & AwardsJan 07, 2026
Melee Adds 13 New Designers to NYC ShowThe trade show is slated for Jan. 31-Feb. 2 at The Lighthouse in New York City's Chelsea neighborhood.
TrendsJan 07, 2026
Amanda’s Style File: Go for GarnetJanuary’s birthstone comes in a rainbow of colors, from the traditional red to orange, purple, and green.
SourcingJan 07, 2026
Diamonds Do Good Releases 2025 Impact ReportThe annual report highlights how it supported communities in areas where natural diamonds are mined, crafted, and sold.
CrimeJan 06, 2026
2 Jewelers Arrested After TraxNYC Diamond District BrawlFootage of a fight breaking out in the NYC Diamond District was viewed millions of times on Instagram and Facebook.
MajorsJan 06, 2026
Rio Grande Says These Are the Top Personalization Tools for 2026The supplier has a curated list of must-have tools for jewelers doing in-house custom work this year.
MajorsJan 06, 2026
Zales Tests Out A New LookThe Signet Jewelers-owned store, which turned 100 last year, calls its new concept stores “The Edit.”
MajorsJan 06, 2026
LeachGarner Appoints New Director of SalesLinda Coutu is rejoining the precious metals provider as its director of sales.
SourcingJan 06, 2026
AGA Announces 2026 BoardThe governing board welcomed two new members, Claire Scragg and Susan Eisen.
TrendsJan 05, 2026
Amanda’s Style File: New Year’s EditionSparkle with festive diamond jewelry as we celebrate the beginning of 2026.
IndependentsJan 05, 2026
Jeweler Ben Nighthorse Campbell Dies at 92The master jeweler, Olympian, former senator, and Korean War veteran founded the brand Nighthorse Jewelry.
TrendsJan 05, 2026
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
MajorsJan 02, 2026
Marc Metrick Out as CEO of Saks Global Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Events & AwardsJan 02, 2026
Jan Mohr, Couture’s ‘North Star,’ Dies at 71Mohr had just retired in June after more than two decades as Couture’s retailer liaison.
SourcingJan 02, 2026
IDCA Elects New President, Board of DirectorsShekhar Shah of Real Gems Inc. will serve as president of the Indian Diamond & Colorstone Association in 2026.
CollectionsJan 02, 2026
Lalaounis’ 2026 Good Luck Charm Speaks to ResilienceThis year’s good luck charm features the mythical horse Pegasus, and is our first Piece of the Week of the new year.
EditorsDec 31, 2025
The Top 5 Stories of 2025Articles about crime, engagement rings, and a necklace worn in the World Series generated the most interest among readers.
