SurveysAug 26, 2026
5 Jewelry Insights From The RealReal’s Resale ReportSurveysSep 30, 2026
Consumer Confidence Falls to 12-Year Low in September
Those surveyed were worried about the present and the future, with write-in responses mentioning high oil and gas prices.
U.S. consumer confidence fell again this month, according to The Conference Board’s monthly Consumer Confidence Index, which decreased to 81.9 in September from a downwardly revised 88.6 in August.
New York—U.S. consumer confidence fell again in September with consumers concerned about the present and the future amid high gas prices.
The Conference Board’s monthly Consumer Confidence Index decreased to 81.9 in September from a downwardly revised 88.6 in August.
It marks the lowest reading since 2014, according to the Wall Street Journal, and was well below economists' forecast of 89.
The results could spell trouble for the holiday season, said Jeffrey Roach, chief economist for LPL Financial, to the WSJ.
“Americans feel jobs are more scarce and are pulling back on plans for homes, cars, and big-ticket purchases, emitting a warning sign for holiday spending even though layoffs data show employers aren’t yet cutting workers to match the gloom,” he said.
The survey period ran from Sept. 1-23, which included a federal funds rate hike as well as ongoing geopolitical tensions.
“The Consumer Confidence Index deteriorated notably in September, following two prior months of softening,” said Dana M. Peterson, chief economist at The Conference Board.
The Conference Board’s Present Situation Index, which measures consumers’ current view of business and labor market conditions, fell to 109.3 from a downwardly revised 117.2 in August.
Views on the current labor market softened, while views on current business conditions were also more pessimistic this month, with the decline driven by more consumers reporting that business conditions are “bad.”
Respondents weren’t feeling much better about future conditions.
The Expectations Index, which measures consumers’ outlook on income, business, and labor market conditions in the near future, fell to 63.6 from an upwardly revised 69.5 in August.
All three components of the Expectations Index fell, with appraisals of current business conditions dropping into the negatives for the first time since September 2024.
It marked the index's third consecutive monthly decline and the 20th consecutive month that expectations remained below the threshold of 80, a level which typically signals a recession is ahead, according to The Conference Board.
Consumers’ write-in responses about factors affecting the economy were mostly pessimistic in September, said Peterson.
“References to prices, the high cost of goods and services, and oil and gas prices in particular, rose to new heights, reflecting September’s surge in fuel costs,” she said.
“Comments about war/conflict eased this month but remained elevated. Consumers also frequently cited politics, trade, and employment in their write-in responses, though to a lesser extent.”
Related stories will be right here …
The Conference Board’s monthly Consumer Confidence Index decreased to 81.9 in September from a downwardly revised 88.6 in August.
It marks the lowest reading since 2014, according to the Wall Street Journal, and was well below economists' forecast of 89.
The results could spell trouble for the holiday season, said Jeffrey Roach, chief economist for LPL Financial, to the WSJ.
“Americans feel jobs are more scarce and are pulling back on plans for homes, cars, and big-ticket purchases, emitting a warning sign for holiday spending even though layoffs data show employers aren’t yet cutting workers to match the gloom,” he said.
The survey period ran from Sept. 1-23, which included a federal funds rate hike as well as ongoing geopolitical tensions.
“The Consumer Confidence Index deteriorated notably in September, following two prior months of softening,” said Dana M. Peterson, chief economist at The Conference Board.
The Conference Board’s Present Situation Index, which measures consumers’ current view of business and labor market conditions, fell to 109.3 from a downwardly revised 117.2 in August.
Views on the current labor market softened, while views on current business conditions were also more pessimistic this month, with the decline driven by more consumers reporting that business conditions are “bad.”
Respondents weren’t feeling much better about future conditions.
The Expectations Index, which measures consumers’ outlook on income, business, and labor market conditions in the near future, fell to 63.6 from an upwardly revised 69.5 in August.
All three components of the Expectations Index fell, with appraisals of current business conditions dropping into the negatives for the first time since September 2024.
It marked the index's third consecutive monthly decline and the 20th consecutive month that expectations remained below the threshold of 80, a level which typically signals a recession is ahead, according to The Conference Board.
Consumers’ write-in responses about factors affecting the economy were mostly pessimistic in September, said Peterson.
“References to prices, the high cost of goods and services, and oil and gas prices in particular, rose to new heights, reflecting September’s surge in fuel costs,” she said.
“Comments about war/conflict eased this month but remained elevated. Consumers also frequently cited politics, trade, and employment in their write-in responses, though to a lesser extent.”
By demographic, confidence for consumers of all ages and nearly all income groups declined on a six-month moving average basis.
Though higher-income groups were still generally more optimistic, those with a household income of $125,000 to $149,000 posted the greatest decline in confidence over the last six months.
By generation, confidence for Gen Z remained the highest, followed by millennials.
Confidence among Generation X, baby boomers, and Silent Generation consumers continued to decline.
By political affiliation, Democrats, Republicans, and Independents also saw confidence decline.
Consumers’ average and median 12-month inflation expectations rose slightly in September.
A majority of respondents (68 percent) expect to see higher interest rates over the next 12 months, up from 63 percent in August.
Consumers also still expect higher stock prices a year from now, though that optimism moderated in September.
Respondents’ view of their Family’s Current Financial Situation turned negative this month, with the number of consumers stating their finances were “bad” overtaking those who said they were “good” for the second time since the question was introduced four years ago.
Views of their Family’s Future Financial Situation over the next six months were also slightly less optimistic.
Those who believe a U.S. recession over the next 12 months is “somewhat likely” rose while those who believe recession is “not likely” declined.
These measures are not included in calculating the Consumer Confidence Index.
Looking at spending, plans to purchase cars and homes both declined slightly in September.
The most popular items in the durable goods category remained furniture and smartphones, while plans to buy refrigerators and TVs fell on a six-month moving average basis. Plans to buy other durable goods moderated slightly.
The top five services consumers plan to spend money on included restaurants, bars, and take-out; streaming, internet, and mobile services; beauty and personal care; utilities; and health care.
“Beyond the top five, consumers preferred to spend on cheap thrills and necessities,” noted the Conference Board.
Anticipated spending for several discretionary activities moderated, including hotels for personal travel, movies, airfare, and amusement parks.
Household maintenance, financial services, and historical sites and museums saw slight increases in planned spending.
However, plans to spend on a vacation stayed strong, with 43 percent of consumers planning a vacation in the next six months, up slightly month-over-month.
This slight increase was limited to domestic travel, with plans to travel abroad slipping this month.
The Consumer Confidence survey results for October are scheduled to be released on Oct. 27.
Editors' Picks
Sponsored by
More on Surveys
The Latest
CrimeOct 20, 2026
Security Guard Charged With Murder in Shooting at Texas MallThe guard opened fire on a man who was smashing a jewelry display case at La Gran Plaza in Fort Worth last week, police said.
IndependentsOct 20, 2026
David Gardner’s Jewelers Unveils Newly Expanded, Revamped ShowroomThe Texas jeweler added 2,000 square feet to its reimagined showroom, complete with a new design studio and an event space.
SourcingOct 20, 2026
The $50M Victoria’s Secret ‘Fantasy Bra’ By The NumbersJacob & Co.'s diamond masterpiece is the most expensive Fantasy Bra ever worn on the Victoria’s Secret Fashion Show runway.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
CollectionsOct 20, 2026
Mignon Faget’s Collection Chooses Handmade Over AIThe “Atelier” collection was inspired by the tools, rituals, and objects in an artist’s studio as a quiet rebuttal to an automated world.
Weekly QuizOct 15, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsOct 19, 2026
The Knot to Acquire Rival Wedding Planning Platform ZolaThe pending acquisition is an “exciting opportunity” for wedding vendors to grow their business, said The Knot Worldwide’s CEO.
SourcingOct 19, 2026
Jewelry Design Competition Show Airs in Thailand"The Secret Gems" features eight Thai jewelry brands paired with a team of young craftspeople who create jewelry together to win challenges.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
CollectionsOct 19, 2026
John Hardy Enters the Medallion Chat With Talisman Collection The brand’s “Modern Talisman” capsule collection introduces pendants inspired by the mythology, natural world, and spiritual ethos of Bali.
IndependentsOct 19, 2026
The Stories of 5 Jewelers Celebrating Their Centennials in 2026Independent jewelers from New Mexico to New Jersey answer the question: What has kept your store in business for 100 years?
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
IndependentsOct 15, 2026
Retailer Hall of Fame 2026: Amy and Elise Greenberg For 40 years, sisters Amy and Elise Greenberg have helmed their 126-year-old family business, leading with appreciation and integrity.
ColumnistsOct 15, 2026
Peter Smith: What Is the Culture REP?It’s a term Smith coined and felt compelled to share following a bad experience with an aborted flight and an unfeeling flight attendant.
WatchesOct 15, 2026
Stephanie Gottlieb’s New Movado Watches Are Made for Your Wrist StackMovado teamed up with the New York-based fine jewelry designer on a new collection of Movado Museum Velura watches.
SourcingOct 15, 2026
Signet Jewelers, Richemont May Join Bidder for De Beers, Report SaysThe two companies are reportedly in talks to join the Global Diamond Consortium, led by former De Beers CEO Gareth Penny, as per Bloomberg.
CollectionsOct 15, 2026
Wolf x Marla Aaron's New Jewelry Box Is for Some (Not All) of Your ThingsThe “Some of the Things” box follows the two larger “Everything” box designs with the look and function of antique sewing and toolboxes.
IndependentsOct 14, 2026
Retailer Hall of Fame 2026: Coleman and Mitchell ClarkFourth-generation jewelers Coleman and Mitchell Clark exemplify the best qualities of their predecessors: humility, modesty, and confidence.
SourcingOct 14, 2026
Manuel Marcial de Gomar, ‘The Emerald Whisperer,’ Dies at 90The gem hunter, whose 70-year career was defined by adventure and exploration, is remembered for his steadfast faith and sense of wonder.
FinancialsOct 14, 2026
LVMH’s Jewelry Brands Turn in ‘Very Good’ Performance in Q3 Tiffany & Co. continued its full-scale store renovation project while Bulgari’s high jewelry collection generated “record-breaking revenue.”
Events & AwardsOct 14, 2026
Chicago Responsible Jewelry Conference Releases 2026 ProgramThis year’s sessions feature leading voices from human rights, legal, and conservation organizations.
MajorsOct 13, 2026
David Webb Owner Purchases Lugano JewelryThe high-end jewelry retailer was sold to private investment firm Middle West Partners and a group of longtime clients.
Lab-GrownOct 13, 2026
Stephanie Gottlieb Takes Lab-Grown Diamond Collection WholesaleThe jewelry designer has partnered with Sofer Jewelry to distribute her 85-piece lab-grown diamond collection.
IndependentsOct 13, 2026
Retailer Hall of Fame 2026: Sean DunnDunn, this year’s Single-Store Independent inductee, is passionate about innovation and telling the story of natural diamonds.
AuctionsOct 13, 2026
Christie's Geneva To Auction 'Bulgari Pink' DiamondThe 24-carat fancy intense pink diamond ring could fetch up to $18 million at the November sale.
IndependentsOct 13, 2026
Greenwich St. Jewelers’ New Candle Smells Like HomeThe “Island Jewel” candle honors New York City and Puerto Rico and raises money for the island’s water relief efforts.
