IndependentsMay 10, 2024
Frank Adams Jewelers Names New CEOKimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
OtherAug 10, 2016
Consumer confidence hits seven-year high
The latest data from The Conference Board shows that in July consumer confidence rose for the third straight month and reached its highest point since 2007.
New York--The latest data from The Conference Board shows that in July consumer confidence rose for the third straight month and reached its highest point since 2007.
The Conference Board’s Consumer Confidence Index, based on the monthly Consumer Confidence Survey conducted by Nielsen, now stands at 90.9, up from 86.4 in June and also an increase from May. (The survey is benchmarked to 1985=100, which was a fairly average result in the history of the index; it was neither a peak nor a trough.)
In addition, the Present Situation Index rose month-over-month, from 86.3 in June to 88.3 in July while the Expectations Index hit 92.7, up from 86.4.
Lynn Franco, director of economic indicators at The Conference Board, said this is the highest level consumer confidence has reached since October 2007, when the board measured it at 95.2. Strong job growth, a brighter short-term outlook for the economy and jobs, and, to a lesser extent, personal income, helped to bolster people’s outlook.
Franco said they expect consumer confidence to continue to grow in the second half of the year, particularly given the month-over-month increase in the Expectations Index and survey-takers’ general answers to questions regarding their expectations.
Those anticipating more jobs in the months ahead increased from 16 percent in June to 19 percent in July. Slightly more consumers also said they expect their incomes to grow, 17 percent in July vs. 16 percent in June. The number of survey-takers expecting a drop in income or fewer jobs to be available both fell month-over-month.
While expectations generally were positive, consumers’ outlook on the current situation was somewhat less rosy. The survey showed that those who would describe business conditions as “good” edged down, from 23.4 percent to 22.7 percent, in July while the percentage of survey-takers who said business conditions are “bad” (23 percent) held steady.
Also unchanged month-over-month was the percentage of those who said jobs are “hard to get,” which remained at 31 percent.
The Conference Board is a not-for-profit business membership and research association.
Nielsen Holdings N.V., a New York-based global information company that measures what consumers buy and watch, conducts the consumer confidence survey every month for the board. The results then are used to calculate the Consumer Confidence Index.
RELATED CONTENT: Consumer sentiment on current economy best since ‘08
While up and down on a month-to-month basis, consumer
confidence has shown signs of improvement throughout the first half of 2014. In February, the Present Situation Index hit 81.7, its highest level since April 2008, prior to the global financial crash.
More on Other
The Latest
CollectionsMay 10, 2024
Piece of the Week: Carina Hardy’s ‘Birth of Venus’ NecklaceAs a token of womanhood, this necklace depicts when Venus was born from the sea.
MajorsMay 09, 2024
Watches of Switzerland Pays $130M for Roberto Coin Inc.The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Brought to you by
From Registration to Return: 10 Tips to Protect You Before, During and After a TradeshowTradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
TrendsMay 09, 2024
Amanda’s Style File: Shine Bright, Moms Show your mother some love with a piece of fine jewelry.
Weekly QuizMay 09, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
IndependentsMay 09, 2024
Kyle Edward Fine Jewelry to Close Salisbury StoreThe company’s Easton location will remain open.
MajorsMay 09, 2024
JBT Elects New ChairmanBrian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.
Brought to you by
Rio’s Reimagined Podcast: For the Love of JewelersMeet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Supplier BulletinMay 08, 2024
Fusing Past and Present at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry and Watch Show
EditorsMay 07, 2024
Q&A: Author Vikki Tobak on the ‘Ice-Cold’ ExhibitionTobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
EditorsMay 07, 2024
10 On-Theme Looks from the 2024 Met GalaStars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.
IndependentsMay 07, 2024
112-Year-Old New Orleans Business Popping Up in Aspen M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.
MajorsMay 07, 2024
Richemont Acquires Italian Jeweler VhernierThe branded jewelry market is thriving, said Richemont Chairman Johann Rupert.
CollectionsMay 07, 2024
These ‘Luminaries’ Are Set to Light Up CoutureThe six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
AuctionsMay 07, 2024
Sotheby’s to Auction Sylvester Stallone’s WatchesThe highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.
CollectionsMay 07, 2024
Phillip Gavriel Pays Tribute to Venice With New CollectionThe “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.
Events & AwardsMay 07, 2024
JA Now Accepting Applications for New Bench Jeweler ScholarshipThe Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.
Policies & IssuesMay 06, 2024
Rolex Files Objection to Hallmark’s New Trademark ApplicationThe Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
EditorsMay 06, 2024
Q&A: 8 Questions With Anglo American’s Benny Oeyen The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.
MajorsMay 06, 2024
Malabar Gold & Diamonds Opens 4th U.S. ShowroomThe Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.
Events & AwardsMay 06, 2024
Ben Bridge Jeweler Accepting Applications for Lonia Tate ScholarshipIt will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
CrimeMay 03, 2024
Second Suspect Arrested in Murder of Colorado JewelerWheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
CollectionsMay 03, 2024
A Sneak Peek Into PGI’s Couture Platinum Spotlight ProgramPGI partnered with four new and seven returning designers for its annual platinum capsule collection.
MajorsMay 03, 2024
Kristie Nicolosi Joins WJA Board AgainNicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
CollectionsMay 03, 2024
Piece of the Week: A “Bit of LUV” for the DerbyKarina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
CrimeMay 02, 2024
4 Indicted in Burglary Ring Targeting Indian, South Asian FamiliesThe men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
CollectionsMay 02, 2024
Foundrae Launches ‘Horizon’ Collection“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
