Surveys

Consumer Confidence Hits Pandemic-Level Low Amid Tariff Concerns

SurveysApr 30, 2025

Consumer Confidence Hits Pandemic-Level Low Amid Tariff Concerns

What’s really worrying U.S. consumers isn’t the present situation; it’s what the economy is going to look like six months from now.

Stock image of an empty clothing store
Consumer confidence was down in April, declining 8 points to 86. The Expectations Index, which measures consumers’ six-month economic outlook, fell most sharply, hitting a 13-year low of 54.4.
New York—Consumer confidence fell for the fifth month in a row in April, dragged down by worries about the impact tariffs will have on prices and the economy overall.

On Tuesday, The Conference Board reported that its Consumer Confidence Index fell by 8 points in April to 86, a level not seen since the onset of the COVID-19 pandemic in 2020, noted Stephanie Guichard, a senior economist with The Conference Board. 

While the Present Situation Index fell less than a point, the Expectations Index, which measures consumers’ six-month economic outlook, dropped sharply.

The Present Situation Index slipped 0.9 points to 133.5, while the Expectations Index fell by almost 13 points to 54.4. 

That is the lowest level The Conference Board has recorded since October 2011 and below the threshold of 80, which usually signals a recession is coming. 

Guichard said consumer confidence was down across all three components of the Expectations Index—business conditions, employment prospects, and future income—reflecting “pervasive pessimism about the future.”  

“Notably, the share of consumers expecting fewer jobs in the next six months (32 percent) was nearly as high as in April 2009, in the middle of the Great Recession,” she said. 

“In addition, expectations about future income prospects turned clearly negative for the first time in five years, suggesting that concerns about the economy have now spread to consumers worrying about their own personal situations. However, consumers’ views of the present have held up, containing the overall decline in the Index.”

 Related stories will be right here … 

The Conference Board noted that April’s decline in consumer confidence wasn’t limited to one age group, income bracket, or political party, though some groups were more concerned than others.

The Conference Board said pessimism was most pronounced among consumers ages 35-55—a mix of millennials and Gen Xers—and in households earning more than $125,000 a year.

Technology company Toluna conducts the Consumer Confidence Survey for The Conference Board every month. It is done online, drawing from a panel of more than 36 million U.S. consumers.

The cutoff date for April’s results was April 21.

As part of the survey, The Conference Board solicits write-in responses from consumers on the topics affecting their view of the economy. 

In April, tariffs were top of mind for consumers, with many mentioning they are worried higher tariffs are going to mean higher prices and have an overall negative impact on the economy. 

While the majority of survey respondents noted the high cost of living, some referenced declines in the price of gas and certain food items, while others mentioned stock prices and general uncertainty.

As part of the survey, consumers also are asked about what they plan to purchase in the next six months. 

In April, the survey indicated that consumers are curbing plans for big purchases, for now.

On a six-month moving average basis, purchasing plans for both homes and cars declined, as did plans to take a vacation.

Plans to buy big-ticket items, including appliances and electronics, wavered in April but were mostly up on a six-month moving average basis. 

Consumers also plan to curb spending on services and dining out in the months ahead, according to The Conference Board.

The Latest

Image of Winona Ryder and Iman from Pandora’s Be Love marketing campaign
FinancialsAug 15, 2025
In Q2 Results, Pandora Talks Tariffs, Q4 Plans

The company had a solid second quarter, with sales of non-charm jewelry outpacing sales of pieces in its core collections.

Taylor Swift Etho Maria ruby earrings The Life of a Showgirl TS12
EditorsAug 15, 2025
Piece of the Week: Etho Maria’s Showgirl-Approved Ruby Drop Earrings

Taylor Swift dons the vibrant pair in new promotional imagery for her upcoming album, “The Life of a Showgirl,” set to release in October.

Audemars Piguet Starwheel Watch
WatchesAug 15, 2025
Audemars Piguet Acquires Majority Stake in Manufacturer

Its investment in micromechanics expert Inhotec will preserve skills essential to the watchmaking industry as a whole, said the company.

rio-article photo-diamond.jpg
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine Jewelry

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

Nicolette Bianchi
MajorsAug 15, 2025
Rio Grande Names New Marketing Director

Nicolette Bianchi joins the wholesale provider with more than 15 years of cross-industry experience in marketing and product development.

Weekly QuizAug 15, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Pippa Small Myanmar Fish Cluster
CollectionsAug 14, 2025
In Midst of ‘Sardine Girl Summer,’ Pippa Small Looks to ‘Flounder Fall’

Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.

Casio America CEO Yusuke Suzuki
MajorsAug 14, 2025
Casio America Names New CEO

Longtime Casio executive Yusuke Suzuki is the new president and CEO of Casio’s U.S. subsidiary.

an instructor and a student in a bench jewelry classroom
Brought to you by
Investing in the Next Generation of Bench Jewelers

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

LA Trading Day
SourcingAug 14, 2025
West Coast Orgs to Host Trading Event, Mixer in LA

The full-day sourcing and networking event, slated for Aug. 18, will be followed by the fifth annual Mega Mixer Summer Soirée.

Cristiano Ronaldo and Stephanie Gottlieb Ring
TrendsAug 13, 2025
Cristiano Ronaldo Proposes With Gigantic Oval-Cut Diamond

Model Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.

International Colored Gemstone Association logo
SourcingAug 13, 2025
ICA Names 2025 Board of Directors

The board elected 9 new directors at its recent ICA Congress in Brazil.

Whiskey Barrel Ring
TrendsAug 13, 2025
Colorado Jeweler, Whiskey Maker Collab on Ring Giveaway

Three winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.

Columbia Gem House Winza sapphires and rubies
SourcingAug 13, 2025
Columbia Gem House Launches Winza Sapphires, Rubies

The new inventory, all untreated, features vibrant hues and unique bicolor combinations.

Gemfields Faberge
SourcingAug 12, 2025
Gemfields Sells Fabergé for $50M

Acquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.

Shipping containers on a ship
Policies & IssuesAug 12, 2025
Higher Tariff on Chinese Imports Paused for 90 Days, Trump Says

President Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.

Jacquie Aiche Thunderbird Slab Collection Campaign
CollectionsAug 12, 2025
Jacquie Aiche’s New Collection Harnesses the Energy of the Thunderbird

The “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.

Duvall O’Steen and Jen Cullen Williams
ColumnistsAug 12, 2025
Creative Connecting: How to Take a Better Headshot

Columnists Jen Cullen Williams and Duvall O’Steen share tips on how to elevate your professional image.

Vigil for slain Wheat Ridge, Colorado jeweler Peter Damian Arguello
CrimeAug 11, 2025
Man Convicted of First-Degree Murder in Death of Colorado Jeweler

Peter Damian Arguello, a jeweler in the Denver suburb of Wheat Ridge, was found dead inside his store in November 2023.

Lisa Bridge
IndependentsAug 11, 2025
Lisa Bridge to Depart Ben Bridge Jeweler

The retailer, owned by Berkshire Hathaway, is becoming part of the Berkshire Hathaway Jewelry Group with Helzberg.

Bethenny Frankel
Events & AwardsAug 11, 2025
Bethenny Frankel to Give Keynote at CBG’s Experience Show

The Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.

Nora Kühner fashion design consulting trend forecast colors 2027
EditorsAug 11, 2025
The Colors Expected to Be On-Trend in a Couple Years

Associate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.

Brilliant Earth Jolie Mosaics engagement ring
FinancialsAug 08, 2025
Brilliant Earth’s Q2 Sales Up 3% as Engagement Ring Sales Rise

The company raised its full-year sales guidance while noting it has not yet assessed the potential impact of the latest tariff news.

Jewellers for Hope charity event
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of Fundraising

The organization has raised more than $1.3 million for charity since its inception.

Rahaminov Diamonds Emerald-Cut Diamond Bezel Bangle
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel Bangle

The brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.

Black and white photo of Tony Bennett near a microphone
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony Bennett

The first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.

Sapphire page in Chatham’s “Ultimate Lab-Grown Catalog”
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown Gemstones

The catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.

Rembrandt Blue Jay, Hummingbird, Cardinal Bird Charms
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird Charms

The company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy