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.
Editors' Picks
Sponsored by
More on Surveys
The Latest
CrimeNov 12, 2026
1 of 7 Men Charged in $100M Brinks Heist to Plead GuiltyThree of the other alleged perpetrators will stand trial next March, while two remain on the lam and one was deported late last year.
AuctionsNov 12, 2026
24-Carat ‘Bulgari Pink’ Diamond Sells for $14.8MUnseen for more than seven decades, the fancy intense pink diamond was the star of Christie’s Geneva jewelry auction.
WatchesNov 12, 2026
Zadok Jewelers Now Offers Certified Pre-Owned Rolex WatchesThe curated selection is available online and at its showroom in Austin, Texas.
Brought to you by
DSF Antique Jewelry: Fine Jewelry, Signed Designers, and a World of Rare DiscoveriesWith over 50 years experience in the trade, DSF Antique Jewelry offers quality, craftsmanship, condition, and remarkable variety.
IndependentsNov 12, 2026
Greenberg’s Jewelers Welcomes New Fourth-Generation MembersThe next generation understands what makes the 126-year-old retailer special, said CEO and Co-President Elise Greenberg.
Weekly QuizNov 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Lab-GrownNov 10, 2026
GIA Examines Pink Lab-Grown Diamond Made to Look NaturalThe 6-carat CVD-grown pink diamond was “deliberately modified” to mimic the appearance of a natural rough diamond, the lab said.
SourcingNov 10, 2026
Botswana in Line to Take Controlling Stake in De Beers, President Says If the Global Diamond Consortium emerges as the top bidder for De Beers, Botswana’s stake will double to 30 percent, Duma Boko said Monday.
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
ColumnistsNov 10, 2026
Who Checks the Facts When AI Writes Your Jewelry Copy?An incorrect AI-generated ad or product description can cost your store valuable consumer trust.
Events & AwardsNov 09, 2026
Here Are the 2027 Gem Award NomineesThese nine individuals and brands are up for a Gem Award in the Jewelry Design, Media Excellence, and Retail Innovation categories.
CrimeNov 09, 2026
Jeweler Pistol-Whipped, $900K in Jewelry Stolen During Home Invasion The incident, which happened in Miami-Dade County, serves as a reminder to jewelers of the dangers of selling and storing jewelry at home.
GradingNov 09, 2026
GIA Acquires Thousands of Gem Specimens With ‘Extraordinary’ InclusionsGIA Analytical Microscopist John Koivula curated the collection of 2,665 crystals, gems, and minerals over a 60-year span.
CollectionsNov 09, 2026
Bibi van der Velden’s Alligators Become High JewelryThe “Eclipse” collection, the brand’s first high jewelry line, centers its alligator motif in diamond and spinel jewels.
EditorsNov 06, 2026
The Spectrum Pieces I Can’t Stop Thinking AboutFrom a Betta fish brooch to a “dragon’s trove” of zircon eggs, here are seven pieces that’ve stuck with Associate Editor Lauren McLemore.
TrendsNov 06, 2026
Pat Pruitt’s DragonFly Earrings Take Flight on Election NightGroundbreaking New Mexico Governor-elect Deb Haaland wore the earrings, our Piece of the Week, when she declared victory on Tuesday.
MajorsNov 06, 2026
SNL’s Colin Jost Finds the Perfect Gift in Kay Jewelers’ Holiday AdJost goes on an epic journey, traversing rough seas and encountering a cyclops, to discover the perfect holiday gift.
Supplier BulletinNov 05, 2026
Winning With GCAL 8X®: What’s Working at the CounterSponsored by GCAL by Sarine
CollectionsNov 05, 2026
Judi Powers, Russell Jones Unleash Joy With New CollaborationThe designers combined their talents for Little Pet Portraits, hand-painted miniatures of our best friends set in a piece of jewelry.
FinancialsNov 05, 2026
Brilliant Earth Continued to Resonate With High-Income Shoppers in Q3Its non-bridal fine jewelry remains the star of the show, recently launching new collections inspired by Elizabeth Taylor and Jane Goodall.
MajorsNov 05, 2026
Ariana Grande Stars In Swarovski’s Holiday Campaign“Joy: The Swarovski Musical” features Ariana Grande as the leading lady in scenes inspired by classic musical montages.
GradingNov 05, 2026
GIA to Offer Next-Day Holiday ServicesThe lab will bring back its complimentary next-day service for some reports starting next week.
CrimeNov 04, 2026
$250K+ in Undeclared Cartier Jewelry Seized at Philadelphia AirportA Pennsylvania woman failed to declare a ring and a bracelet, discarding the boxes and receipts to conceal the purchases, officials said.
FinancialsNov 04, 2026
Pandora’s Q3 Sales Up 7% Amid Focus on DesignNew collections and relevant marketing pushed the company forward, while Pandora’s lab-grown diamond sales continue to lag.
Events & AwardsNov 04, 2026
NYC Jewelry Week 2026 Is the Largest Edition YetThe citywide celebration, slated for Nov. 16-22, is set to host more than 175 events, including live jewelry-making demos.
MajorsNov 04, 2026
Bergdorf Goodman Names New PresidentLanessa Elrod, former president and CEO of Louis Vuitton Americas, has stepped into the role as the retailer celebrates 125 years.
AuctionsNov 03, 2026
Infinity Gauntlet Set With 170+ Carats of Colored Gemstones Up for AuctionA replica of one of the most powerful objects in the Marvel Cinematic Universe, the glove is heading to auction next month in Abu Dhabi.
IndependentsNov 03, 2026
Longtime Jewelry Marketer Arthur Klein Dies at 89Klein, who had his own marketing agency and worked for Gabriel & Co. and Trans American Diamond, is remembered as a kind man.
