SourcingFeb 24, 2025
Colored Stone Market Update: Tracking Industry Trends in TucsonDeclining supply and growing demand persist in the colored gemstone market, presenters from Gemworld said at AGTA GemFair Tucson.
FinancialsOct 01, 2020
Consumer Confidence Hits High in September
The consumer confidence index saw the highest month-over-month increase in 17 years in September but remains below pre-pandemic levels.
The consumer confidence index rose to 101.8 in September compared with 86.3 in August.
New York—U.S. consumer confidence increased in September to its highest level since the COVID-19 pandemic began.
The Conference Board’s consumer confidence index rose to 101.8 in September compared with 86.3 in August, higher than the 89.6 economists had expected.
It was also the highest level the index has reached since the start of the pandemic. The index hit a six-year low of 85.7 in April as the COVID-19 pandemic shuttered stores and parts of the country went into lockdown.
“A more favorable view of current business and labor market conditions, coupled with renewed optimism about the short-term outlook, helped spur this month’s rebound in confidence,” said Lynn Franco, senior director of economic indicators at The Conference Board, in a press release announcing the results.
Economists, including Federal Reserve Chairman Jerome Powell, have stressed that economic recovery is dependent on how well the U.S. handles the virus.
While consumer confidence did rise after back-to-back monthly declines, Franco noted it still remains below pre-pandemic levels.
For comparison, the index was at 132.6 in February before the worst of the COVID-19 pandemic hit.
However, consumers were optimistic about their current financial prospects.
The Present Situation Index improved to 98.5 from 85.8 last month.
The percent of consumers that said business conditions are “good,” increased to 18.3 percent month-over-month from 16 percent.
Those who said conditions were “bad” decreased to 37.4 percent compared with 43.3 percent in August.
Consumer outlook also improved in regard to the labor market with 22.9 percent of consumers saying jobs are “plentiful” compared with 21.4 percent last month.
The percentage of those who said jobs are “hard to get” decreased to 20 percent from 23.6 percent.
“Consumers also expressed greater optimism about their short-term financial prospects, which may help keep spending from slowing further in the months ahead,” said Franco.
The Expectations Index, which measures consumers’ short-term outlook for income, business, and labor market conditions, rose to 104 percent from 86.6 in August.
The 17-point gain took the Expectations Index to a three-month high.
The percentage of consumers expecting business conditions to improve over the next six months increased to 37.1 percent from 29.8 percent.
Fewer consumers are expecting business conditions to worsen—15.8 percent compared with 20.7 percent last month.
Consumers also took a more optimistic view on the labor market.
Editors' Picks
Sponsored by
More consumers expect to see more jobs in the months ahead, with that percentage rising to 33.1 from 29.9 percent last month.
The percentage of consumers expecting to see fewer jobs also decreased to 15.6 percent, compared with 21.2 percent in the previous month.
Looking at short-term income, the percentage of consumers expecting an increase improved to 17.5 percent from 13 percent in August.
The percentage of consumers expecting a decrease was down to 12.6 percent, compared with 16 percent in the previous month.
More on Financials
The Latest
TrendsFeb 24, 2025
Renna’s Lobster Clasp Looks Like a Claw, Now It's Patented by LawThe designer’s new patent transforms the everyday clasp into her jumbo “Lobster Clasp,” modeled after the look of a crustacean’s claw.
Events & AwardsFeb 24, 2025
Bogolo Joy Kenewendo to Speak at Annual JVC LuncheonKenewendo, Botswana’s minister of minerals and energy, will discuss the future of diamonds.
Brought to you by
A Diamond ETF is the Way to Reinvigorate Natural Diamond SalesThe jewelry industry faces challenges from lab-grown diamonds. A diamond ETF can restore natural diamonds' value and drive investor demand.
SourcingFeb 24, 2025
Diavik’s Production Down 17% in 2024 Sales at the Rio Tinto-owned mine also slid by a double-digit percentage, falling 37 percent in a difficult market for diamonds.
Weekly QuizFeb 21, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsFeb 21, 2025
Piece of the Week: Jade Ruzzo’s ‘Tennessee’ Oval Drop EarringsHeidi Gardner, an SNL cast member, wore the smoky quartz earrings on the “SNL50: The Anniversary Special” red carpet on Sunday.
SourcingFeb 21, 2025
Zambia Lifts 15% Export Duty on Gemstones, Metals The reversal comes less than two months after the Zambian government reinstated the tax in an effort to bring in more money.
Brought to you by
Get Ready for the JA New York Spring ShowThis year will feature a new MJSA Showcase and partnership with Piazza Italia.
MajorsFeb 21, 2025
24 Karat Club of New York Names New PresidentThe organization also announced its newly elected officers and directors.
SourcingFeb 20, 2025
Anglo Writes Down Value of De Beers by $2.9B As anticipated, Anglo took another impairment charge on the diamond miner and marketer, which saw revenue sink 23 percent in 2024.
SourcingFeb 20, 2025
Harry Winston’s Son Donates Fancy Red Diamond to the SmithsonianRonald Winston is giving the 2.33-carat “Winston Red” to the Smithsonian, 67 years after his father donated the Hope Diamond.
SourcingFeb 20, 2025
GJEPC Names New Chairman, Vice ChairmanKirit Bhansali, a partner in Smital Gems and chairman of India Jewellery Park, will take on the role of chairman.
IndependentsFeb 20, 2025
IJO Elects 4 New Board MembersAlisha Cornett, Nic Faini, Eric Stevens, and Seth Shipley have joined the organization’s board of directors for a three-year term.
CrimeFeb 19, 2025
Brink’s to Pay $42M After Admitting to Illegally Transporting MoneyThe company has to pay the Justice Department and FinCEN for violating the Bank Secrecy Act, the U.S.’s main anti-money laundering law.
SourcingFeb 19, 2025
Diamond Mining Company CEO Steps Down Amid Sales Slump, LayoffsPetra Diamonds Ltd. CEO Richard Duffy resigned as the diamond miner reported a 30 percent drop in sales to start its fiscal year.
ColumnistsFeb 19, 2025
The Smart Lab: Maximizing Your Jewelry Brand on PinterestPinterest is a potential gold mine for jewelry brands, Emmanuel Raheb writes, provided they follow these five tips.
MajorsFeb 19, 2025
Cartier Opens New Store Inside LAXThe boutique is the French luxury brand’s first airport store on the West Coast.
CollectionsFeb 19, 2025
Swarovski’s NYC Flagship Celebrates Ariana Grande CollabThe store’s facade now features the iconic swan logo and campaign images of the “Wicked” star.
Policies & IssuesFeb 18, 2025
New Customs Requirements for Diamond Imports: What We KnowBeginning in April, companies importing diamonds into the United States will have to list the country in which the diamonds were mined.
AuctionsFeb 18, 2025
A Menagerie of Fabergé Coming to Sotheby’sAround 30 whimsical Fabergé animal carvings will go up for auction at Sotheby’s Geneva in May.
SourcingFeb 18, 2025
Celine Assimon Stepping Down as CEO of De Beers JewellersAssimon will be leaving at the end of February after nearly five years with De Beers.
CollectionsFeb 18, 2025
Tabayer Debuts Its First Men’s Jewelry SelectionsDesigns from the brand’s “Oera” collection have been reimagined with modern masculinity in mind.
SourcingFeb 14, 2025
Navneet Gems Now Offering Unheated Montana SapphiresThe wholesale collection features material from the Rock Creek mine in a variety of colors.
CollectionsFeb 14, 2025
Carolyn Rafaelian Partners with ‘Long Island Medium’ StarThe “Divinely Guided” collection, created in collaboration with Theresa Caputo, features symbols that celebrate the power of connection.
CollectionsFeb 14, 2025
Piece of the Week: Lorraine West’s Diamond ‘Open Heart’ RingShow some love on Valentine’s Day with this 14-karat yellow gold ring that features pavé diamonds.
CrimeFeb 13, 2025
Macy’s Employee Foils $1.5M Jewelry Theft The employee confronted the thief, causing the suspect to flee and leave behind the suitcases full of jewelry.
SourcingFeb 13, 2025
Namibian Diamond Co. Suspends CEO, COO After Deadly Heist Namib Desert Diamonds also put its security manager on leave following last month’s robbery that left one employee dead.
