SurveysFeb 10, 2025
Jewelry Resilient in 2024 Even As Luxury Sales Slipped, Says Bain & Co.SurveysMar 03, 2025
Consumer Confidence Fell in February Amid Concerns About the Future
The recent jump in the prices of household staples, like eggs, and the potential impact of tariffs worried consumers.
U.S. consumer confidence fell in February as consumers worried about inflation, tariffs, the labor market, and more.
New York—U.S. consumer confidence fell sharply in February as consumers remained pessimistic about the future.
The Conference Board’s monthly consumer confidence index fell to 98.3 in February from an upwardly revised 105.3 in January.
It marked the largest monthly decline since August 2021, according to Stephanie Guichard, senior economist, global indicators, at The Conference Board.
“This is the third consecutive month on month decline, bringing the index to the bottom of the range that has prevailed since 2022,” she said.
Of the five components the index tracks, only consumers’ views of present business conditions improved, and only slightly.
“Views of current labor market conditions weakened. Consumers became pessimistic about future business conditions and less optimistic about future income. Pessimism about future employment prospects worsened and reached a ten-month high,” said Guichard.
Consumers of all ages felt the drop in confidence, though it was steepest for consumers between 35 and 55 years old.
It was felt across all income groups, except households earning less than $15,000 a year and those earning between $100,000 to $125,000.
The average 12-month inflation expectations rose to 6 percent from 5 percent.
“This increase likely reflected a mix of factors, including sticky inflation but also the recent jump in prices of key household staples like eggs and the expected impact of tariffs,” said Guichard.
In the write-in responses, many consumers continued to mention inflation and prices, but there was a notable shift to other topics.
“There was a sharp increase in the mentions of trade and tariffs, back to a level unseen since 2019. Most notably, comments on the current Administration and its policies dominated the responses,” said Guichard.
Related stories will be right here …
The Conference Board’s monthly consumer confidence index fell to 98.3 in February from an upwardly revised 105.3 in January.
It marked the largest monthly decline since August 2021, according to Stephanie Guichard, senior economist, global indicators, at The Conference Board.
“This is the third consecutive month on month decline, bringing the index to the bottom of the range that has prevailed since 2022,” she said.
Of the five components the index tracks, only consumers’ views of present business conditions improved, and only slightly.
“Views of current labor market conditions weakened. Consumers became pessimistic about future business conditions and less optimistic about future income. Pessimism about future employment prospects worsened and reached a ten-month high,” said Guichard.
Consumers of all ages felt the drop in confidence, though it was steepest for consumers between 35 and 55 years old.
It was felt across all income groups, except households earning less than $15,000 a year and those earning between $100,000 to $125,000.
The average 12-month inflation expectations rose to 6 percent from 5 percent.
“This increase likely reflected a mix of factors, including sticky inflation but also the recent jump in prices of key household staples like eggs and the expected impact of tariffs,” said Guichard.
In the write-in responses, many consumers continued to mention inflation and prices, but there was a notable shift to other topics.
“There was a sharp increase in the mentions of trade and tariffs, back to a level unseen since 2019. Most notably, comments on the current Administration and its policies dominated the responses,” said Guichard.
The Conference Board’s Present Situation Index, which measures consumers’ current view of business and labor market conditions, fell to 136.5 in February from 139.9 in January.
While consumers’ view of current business conditions improved slightly, they were more pessimistic about the labor market.
The Expectations Index, which measures consumers’ outlook on income, business, and labor market conditions in the near future, fell to 72.9 from 82.2 in January.
Notably, this index fell below 80, which usually signals a recession ahead, for the first time since June 2024, said the Conference Board.
Consumers held more pessimistic outlooks across the board in regard to future business conditions, the labor market, and their income prospects.
Their outlooks on their family’s current and expected financial situation, a measure not included when calculating the Present Situation and Expectations Index, were also more pessimistic.
“Consumers’ Perceived Likelihood of a U.S. Recession over the Next 12 Months” also rose in February to a nine-month high.
Fewer consumers were bullish on the stock market, with 47 percent expecting stock prices to increase over the year ahead, the lowest percentage of consumers since April 2024, down from 54 percent in January.
More consumers expect to see stock prices decline, up to 33 percent from 25 percent in January.
More than half of respondents (52 percent) expect to see higher interest rates over the next 12 months. Fewer expect to see lower rates, down to 24 percent from 27 percent in January.
As for home buying, purchasing plans on a six-month moving average basis continued to recover, said the Conference Board, likely boosted by the “very recent” decline in mortgage rates.
Buying plans for cars and big-ticket items were down, especially in the TV and electronics categories.
Consumers’ plans to purchase services in the months ahead were little changed, but the Conference Board noted a shift in priorities.
Vacation plans continued to trend downward, while consumers prioritized purchasing personal and health care, movies, and live entertainment.
The Consumer Confidence survey results for March are scheduled to be released on March 25.
More on Surveys
The Latest
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.
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.
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.
Weekly QuizMay 28, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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.
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.
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.
MajorsMay 22, 2026
Stuller’s New Packaging, Display Catalog Is Out The updated catalog has a newly dedicated section for gift wrapping.
PodcastsMay 21, 2026
Episode 5: Sotheby’s Frank Everett Puts the Auction Market in PerspectiveEverett covers colored stones’ surging popularity, the mellow return of the “Mellon Blue,” and his “The Devil Wears Prada” doppelgänger.
IndependentsMay 21, 2026
Springer’s Jewelers’ New Flagship Will Serve Next-Gen Luxury ShoppersFourth-generation CEO Lilly Mullen wants to emphasize experience, connection, and personalized service.
Events & AwardsMay 21, 2026
JA Announces Nina Pugliese Memorial ScholarshipThe new award, created in partnership with Henne Jewelers, honors the late designer’s legacy through supporting jewelry education.
SourcingMay 21, 2026
Botswana, Angola Join WFDBThe addition of the diamond-producing countries as nation affiliated members broadens the federation’s global representation, WFDB said.
CrimeMay 20, 2026
NYPD Warns of Jewelry Swap Scams Targeting SeniorsThe NYPD is warning elderly New Yorkers to keep their jewelry hidden when walking outside to avoid being a target.
IndependentsMay 20, 2026
Adornment & Theory’s New Store Feels Like Home Designer Viviana Langhoff has realized her dream of owning a space for her Chicago jewelry store that looks and feels like her brand.
Events & AwardsMay 20, 2026
Here Is Couture’s 2026 Education Lineup The sessions will run from Friday, May 29, to Sunday, May 31, with one being a live taping of an episode of Couture’s podcast.
