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
FinancialsNov 26, 2025
Movado CEO Talks Tariffs, Growing Interest in Accessible Luxury WatchesDuring its Q3 call, CEO Efraim Grinberg discussed the deal to lower tariffs on Swiss-made watches, watch market trends, and more.
TrendsNov 26, 2025
Piece of the Week: Rosior’s Pumpkin RingRosior’s high jewelry cocktail ring with orange sapphires and green diamonds is the perfect Thanksgiving accessory.
IndependentsNov 26, 2025
Greenwich St. Jewelers Launches Colorful Holiday CampaignThe “Embrace Your True Colors” campaign features jewels with a vibrant color palette and poetry by Grammy-nominated artist Aja Monet.
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.
MajorsNov 26, 2025
Serafino Consoli Names New VP of Sales, Brand Development for the AmericasLuxury veteran Alejandro Cuellar has stepped into the role at the Italian fine jewelry brand.
Weekly QuizNov 20, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsNov 26, 2025
Grandview Klein Presents 4 Scholarships in NamibiaThe company gave awards to four students at the Namibia University of Science & Technology, including one who is a Grandview Klein employee.
IndependentsNov 25, 2025
Pearl Stringer Margaret Hoisik DiesShe is remembered as an artist who loved her craft and was devoted to her faith, her friends, and her family.
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.
SourcingNov 25, 2025
Finestar Opens Diamond Manufacturing Facility in JohannesburgIt joins the company’s other manufacturing facilities globally, including in India, Botswana, and Namibia.
TrendsNov 25, 2025
Amanda’s Style File: Polka DotsThe polka dot pattern transcends time and has re-emerged as a trend in jewelry through round-shaped gemstones.
CrimeNov 25, 2025
Former Arizona AG Official Charged With Trafficking Stolen JewelryVanessa Hickman, 49, allegedly sold a diamond bracelet that was mistakenly sent to her home.
Events & AwardsNov 25, 2025
GIA Awards Susan Jacques With Its Highest HonorGIA’s former president and CEO was presented with the Richard T. Liddicoat Award for Distinguished Achievement.
Recorded WebinarsNov 24, 2025
Watch: Top Tips for Social Media EtiquetteSocial media experts spoke about protecting brand reputation through behaving mindfully online.
WatchesNov 24, 2025
Breitling Reveals Plans for Gallet, Universal GenèveIn 2026, the three will come together as “House of Brands,” with Gallet sold in Breitling stores and Universal Genève sold separately.
CollectionsNov 24, 2025
Muse Debuts a Wicked 'Have a Heart x Cynthia Erivo' SequelThe second drop, which includes more Elphaba-inspired pieces from additional designers, will continue to benefit nonprofit Dreams of Hope.
IndependentsNov 24, 2025
J.R. Dunn Jewelers Names New PresidentSecond-generation jeweler Sean Dunn has taken on the role.
MajorsNov 21, 2025
Natural Diamond Council Names New CEOAmber Pepper’s main focus will be on digital innovation and engaging younger consumers.
SourcingNov 21, 2025
De Beers’ Branded, Traceable Diamonds Roll Out to 19 Retailers Called “Origin by De Beers Group,” the loose, polished diamonds are being sold in a total of 30 stores in the United States and Canada.
CollectionsNov 21, 2025
Piece of the Week: Melissa Kaye’s ‘Rocky Infinity’ NecklaceThe lariat necklace features a 4.88-carat oval-cut Zambian emerald in 18-karat yellow gold.
AuctionsNov 20, 2025
Vanderbilt Jewels Shine at Phillips Sale, Pink Diamond WithdrawnA 43-carat sapphire brooch from the Vanderbilt collection was the top lot of the Geneva sale.
CollectionsNov 20, 2025
Rebecca Rau Jewels Debuts With ‘Then & Now’ CollectionRau is a fourth-generation art and antique dealer from M.S. Rau gallery whose first jewelry collection merges artifacts with modern design.
Policies & IssuesNov 20, 2025
RJC Names New Executive DirectorFormer De Beers sustainability leader Purvi Shah will take over the role in February 2026.
WatchesNov 20, 2025
LVMH Takes Minority Stake in Citizen Group-Owned Movement Maker La Joux-Perret is based in La Chaux-de-Fonds, Switzerland, and makes solar quartz as well as mechanical watch movements.
GradingNov 20, 2025
Julia Griffith Joins SSEF as Head of EducationShe previously taught at Gem-A and is the founder of The Gem Academy.
CollectionsNov 19, 2025
Larkspur & Hawk Celebrates 25 Years With Helena Bonham Carter CampaignThe British actress and her daughter modeled pieces from the brand’s new “Palette” capsule for its “Once Upon a Time” holiday campaign.
TechnologyNov 19, 2025
Google Has a New Form for Reporting ‘Review Bombing’ Attacks Plus, the tech giant shares the steps retailers should take if they believe they’re a victim of a review extortion scam.
IndependentsNov 19, 2025
Houston Jeweler Keith Shaftel Retires, Next Generation Steps In Danny and Gaby Shaftel are now Shaftel Diamonds’ CEO and chief operating officer, respectively.
