SurveysJun 26, 2024
Consumer Confidence Slips in June Amid Rising PricesSurveysAug 01, 2024
Consumers Feeling a Little More Confident in July
The Conference Board’s Consumer Confidence Index rose to 100.3 from a downwardly revised 97.8 in June.
Confidence among consumers improved last month, according to The Conference Board, with U.S. shoppers feeling more optimistic about the next six months, but slightly less secure about their current situations.
New York—Consumer confidence increased in July but remains within the “narrow range” it has occupied for the past two years, as high prices and interest rates continue to weigh on consumers’ minds, The Conference Board said Tuesday.
According to the board’s latest Consumer Confidence Index, U.S. consumers were feeling more positive last month, though they’re generally more optimistic about the short-term future than the present.
The index rose to 100.3 in July from a downwardly revised 97.8 in June.
The Present Situation Index, which measures consumers’ views on the current state of business and the job market, fell from 135.3 in June to 133.6 in July, but the Expectations Index, which asks consumers how they think conditions will be six months from now, rose to 78.2 from 72.8 in June.
However, it remains below 80, which usually signals a recession ahead.
“Confidence increased in July, but not enough to break free of the narrow range that has prevailed over the past two years,” The Conference Board Chief Economist Dana M. Peterson said.
“Even though consumers remain relatively positive about the labor market, they still appear to be concerned about elevated prices and interest rates, and uncertainty about the future; things that may not improve until next year.”
Age group-wise, Peterson said consumers under 35 and those who are 55 and older (the oldest members of Gen X and the baby boomers) felt more confident in July, while confidence declined among consumers ages 35-54, a mix of millennials and Gen Xers.
On a month-over-month basis, no clear pattern emerged in terms of income groups, she said, but on average over the last six months, consumers making more than $100,000 were the most confident.
She added that the proportion of consumers predicting a recession increased in July but still remains well below its 2023 peak.
Related stories will be right here …
According to the board’s latest Consumer Confidence Index, U.S. consumers were feeling more positive last month, though they’re generally more optimistic about the short-term future than the present.
The index rose to 100.3 in July from a downwardly revised 97.8 in June.
The Present Situation Index, which measures consumers’ views on the current state of business and the job market, fell from 135.3 in June to 133.6 in July, but the Expectations Index, which asks consumers how they think conditions will be six months from now, rose to 78.2 from 72.8 in June.
However, it remains below 80, which usually signals a recession ahead.
“Confidence increased in July, but not enough to break free of the narrow range that has prevailed over the past two years,” The Conference Board Chief Economist Dana M. Peterson said.
“Even though consumers remain relatively positive about the labor market, they still appear to be concerned about elevated prices and interest rates, and uncertainty about the future; things that may not improve until next year.”
Age group-wise, Peterson said consumers under 35 and those who are 55 and older (the oldest members of Gen X and the baby boomers) felt more confident in July, while confidence declined among consumers ages 35-54, a mix of millennials and Gen Xers.
On a month-over-month basis, no clear pattern emerged in terms of income groups, she said, but on average over the last six months, consumers making more than $100,000 were the most confident.
She added that the proportion of consumers predicting a recession increased in July but still remains well below its 2023 peak.
The Conference Board, a New York-based nonprofit think tank, publishes its Consumer Confidence Index every month. It is based on an online survey that technology company Toluna conducts on behalf of the board. The survey includes write-in responses.
In July, those responses showed that higher prices, especially for food and groceries, and inflation continue to color consumers’ outlook on the economy.
Other factors include the U.S. political situation and the labor market.
The Conference Board said mentions about the forthcoming presidential election increased in July, though the share of respondents who wrote that the 2024 election will impact the economy is lower than it was in July 2016.
The Conference Board asked a supplemental question about future spending on services in July.
Consumers said over the next six months, they plan to spend less on discretionary services, like travel, amusement parks and gambling, and to save money by opting for the less expensive choice, e.g., streaming a film at home instead of going to the movies.
They will continue to prioritize non-discretionary expenditures, like health care and service and repairs on their cars and trucks, The Conference Board said.
More on Surveys
The Latest
FinancialsJun 02, 2026
Signet Jewelers’ Q1 Sales Up 2% As It Focuses on ‘Core Four’ The jewelry retailer is zeroing in on Zales, Jared, Kay Jewelers, and Blue Nile as it looks to create unique brand identities for each.
SourcingJun 02, 2026
Leader Appointed for Botswana’s Diamonds for Development Fund Dr. Akinwumi Adesina, a development economist, will head the fund created to help Botswana diversify its economy.
WatchesJun 02, 2026
Watch Industry Veteran James Marks Joins Sotheby’sSotheby’s has appointed the former Phillips executive as its global head of private sales and retail in its watches division.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
AuctionsJun 02, 2026
Sotheby’s to Auction 10-Carat Blue Diamond, 1960s Harry Winston Necklace A private collection of five Paraíba tourmalines also will be up for sale at Sotheby’s High Jewelry auction in New York, scheduled for June 16.
Weekly QuizMay 28, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsJun 02, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Events & AwardsJun 01, 2026
Design Atelier Brands Have a Big Night at Emotional Couture Design AwardsThe show started by honoring Mildred Marcano, ended with a tearful Beth Anne Bonanno, and recognized a dozen-plus designers in between.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
SourcingJun 01, 2026
RapNet Rebranding as Rapaport TradeThe revamped online diamond marketplace will feature pricing intelligence and data-driven tools for more efficient buying and selling.
SourcingJun 01, 2026
Gemfields’ Higher-Quality Emerald Auction Achieves $26.8MThe miner said demand for higher-quality emeralds is stable, but there is notable caution in the market.
CollectionsMay 29, 2026
Cultus Artem’s Necklace Is the Oasis in Las Vegas’ DesertThe “River of Heaven” necklace, our Piece of the Week debuting at Couture, combines 26 salt and pepper diamonds spaced by Tahitian pearls.
IndependentsMay 29, 2026
Meet the 2026 Retailer Hall of Fame InducteesThis year’s inductees include second-, third-, and fourth-generation jewelers.
Events & AwardsMay 28, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerThe author, speaker, and entrepreneur will give his presentation, “Spiritual Billionaire,” on Saturday morning.
Events & AwardsMay 28, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach on Sunday night.
MajorsMay 28, 2026
Signet Jewelers to Buy The Clear Cut Signet will integrate the online-only, natural diamond-focused jeweler into Blue Nile, which it wants to position as a higher-end retailer.
CollectionsMay 28, 2026
Meet The 17 Newcomers to Couture’s Design AtelierThese up-and-coming jewelry brands are bringing their distinct aesthetic and unique point-of-view to the Design Atelier for the first time.
GradingMay 28, 2026
GCAL By Sarine Launches 8X Cushion CutThe lab’s proprietary diamond cut grade has been expanded to include the popular fancy shape.
Events & AwardsMay 27, 2026
5 Security Tips for Las Vegas Jewelry Market Week 2026This year, it’s what could happen outside of show hours that worries JSA Executive Vice President Scott Guginsky.
ColumnistsMay 27, 2026
What Jewelers Can Learn From Luxury Fashion’s Digital PlaybookHigh-end fashion houses know how to emotionally connect with customers online. Retail jewelers should take note, Emmanuel Raheb writes.
Events & AwardsMay 27, 2026
Couture’s ‘The Iridescence’ Will Showcase 7 Emerging Jewelry DesignersThe designers are the third cohort of mentees from the show’s Belonging @ Couture mentorship program.
ColumnistsMay 26, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
Events & AwardsMay 26, 2026
12 JCK Talks Sessions to Add to Your Las Vegas ScheduleThe trade show’s education series returns, with sessions on retail trends, AI, watches, marketing, corporate responsibility, and more.
Events & AwardsMay 26, 2026
CBG Brings Its Curated Designer Project to Las Vegas ShowThe Curated Designer Project has expanded to highlight eight independent jewelry designers during CBG’s Las Vegas show.
TrendsMay 26, 2026
Amanda’s Style File: A Cooldown Is ComingBring a cool tone to your summer jewelry with these white metal pieces.
Events & AwardsMay 22, 2026
Instore Buys JA New York ShowThe deal closed this week, which means Instore will produce the JA NY show slated to take place this fall.
FinancialsMay 22, 2026
Richemont’s Jewelry Brands Lead the Charge in Q4The company’s jewelry sales were up in Q4 and the fiscal year, with Richemont raising prices in part because of the cost of gold.
CollectionsMay 22, 2026
Leigh Maxwell Celebrates 5 Years at Couture With ‘Bauble’ CollectionThe “Bauble” capsule collection of colorful one-of-a-kinds includes our Piece of the Week, the “Bauble” earrings, featuring rose zircon.
